Given a Supply Curve That Is Positively Sloped and a Demand

question 58

Multiple Choice

Given a supply curve that is positively sloped and a demand curve for a normal good that is negatively sloped, an increase in income will most likely result in:

• A) an increase in price and quantity.
• B) a decrease in price and an increase in quantity.
• C) a decrease in both price and quantity.
• D) an increase in price and a decrease in quantity.

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Definitions:

Content Theories

Content theories of motivation focus on identifying the specific factors that motivate individuals, such as needs, desires, and goals.

Individual Needs

Basic or psychological requirements that motivate behavior and are essential for personal wellbeing and growth.

Corporate Ladder

The hierarchical structure within an organization, representing different levels of position and responsibility, which employees aim to ascend.

Higher-order Needs

Needs in Maslow's hierarchy that go beyond basic physiological and safety requirements, focusing on psychological and self-fulfillment desires.