Computer Equipment Is Believed to Be a Normal Good

question 16

Multiple Choice

Computer equipment is believed to be a normal good.This means that

• A)the quantity of computer equipment consumed decreases as income increases.
• B)the income elasticity of demand for computer equipment is negative.
• C)the quantity of computer equipment increases as income increases.
• D)the quantity of computer equipment increases as income decreases.

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Definitions:

Prevailing Market Price

The current price at which a particular security, commodity, or asset can be bought or sold in the marketplace.

Board Of Directors

consists of a group of elected individuals who represent shareholders' interests, overseeing and advising a company's management.

Bonds

Fixed income investment products that represent loans made by an investor to a borrower, typically corporate or governmental, which pay periodic interest payments.

Stocks

Shares of ownership in a company, giving shareholders a stake in the company's assets and earnings.