You Are Asked to Determine,other Things Equal,the Effects of a Given

question 36

Multiple Choice

You are asked to determine,other things equal,the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for,or supply (S) of,X, (2) the equilibrium price (P) of X and (3) the equilibrium quantity (Q) of X.
-Refer to the above.An increase in income,if X is a normal good,will:

• A) increase D,increase P,and increase Q.
• B) increase D,increase P,and decrease Q.
• C) increase S,increase P,and increase Q.
• D) decrease D,increase P,and increase Q.

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Definitions:

Endorser's Signature

The signature of the person who endorses a document, often found on checks or financial instruments, indicating their approval or transfer of rights.

Blank Endorsement

A payee’s or last endorsee’s signature on a negotiable instrument.

Payee's Signature

The signature of the individual or entity that is entitled to receive payment on a financial instrument, such as a check or promissory note.

Last Endorsee

The final person or entity to whom a negotiable instrument, such as a cheque, has been legally transferred.