In General,the Substitution Effect of an Increase in the Price

question 64

Multiple Choice

In general,the substitution effect of an increase in the price of a normal good:

• A) will cause the individual to buy more of that good because they have relatively more income.
• B) will cause the individual to buy less of that good because they have relatively less income.
• C) will cause the individual to buy more of that good and less of others because it is relatively less expensive.
• D) will cause the individual to buy less of that good and more of others because it is relatively more expensive.

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Definitions:

Albumin

A protein made by the liver that keeps fluid in the bloodstream and carries vitamins, enzymes, and hormones.

Fresh Frozen Plasma

A blood product made from the liquid portion of whole blood, quick-frozen to preserve clotting factors, used in treatments requiring coagulation support.

Packed Red Blood Cells

Concentrated red blood cells that have been separated from plasma and other components, commonly used in transfusions to treat anemia.

Laboratory Blood Bank

A specialized section in a laboratory for storing, processing, and distributing blood and its components for transfusion.