The Demand Curve for a Normal Good Will Shift to the Left

question 71

Multiple Choice

The demand curve for a normal good will shift to the left if:

• A)income increases.
• B)population increases
• C)the price of a substitute good decreases.
• D)all the above.
• E)none of the above.

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Definitions:

Valued Policy

A type of insurance policy that pays out a predetermined amount in the event of a total loss.

Open Policy

An insurance policy that provides coverage for all shipments or transfers under certain conditions over a specific period of time without the need for individual certificates.

Fair Market Value

The price that a property would sell for on the open market, where both buyer and seller have reasonable knowledge of all pertinent facts.

Increase Of Hazards Clause

A provision in insurance policies that allows the insurer to deny coverage if the insured significantly increases the risk or hazard insured against.