The Product Is a Normal Product

question 61

Multiple Choice

The product is a normal product.

-Refer to the graph above to answer this question.Which of the following statements is correct?

• A)Both ab and ac represent an increase in the quantity demanded.
• B)Both ab and ac represent an increase in demand.
• C)While ab represents an increase in demand,ac represents an increase in supply.
• D)While ac represents an increase in demand,ab represents an increase in the quantity supplied.
• E)Both ab and cb represent an increase in demand.

---

Definitions:

Reimburse

The act of compensating someone for money spent or costs incurred on someone else's behalf.

Litigation

The process of taking legal action or resolving disputes in court between individuals or parties.

Traveler's Checks

Preprinted, fixed-amount checks designed to allow the person signing them to make payments when traveling.

Countersignature

A second signature on a document that confirms or approves the initial signature, providing an additional level of security or authentication.