If Preferences Are Homothetic and All Prices Double While Income

question 52

True/False

If preferences are homothetic and all prices double while income remains constant, then demand for all goods is halved.

---

Definitions:

Homozygote

An organism that has two identical alleles for a specific trait or gene.

Identical Alleles

Alleles that are the same at the same locus on both chromosomes in a pair, resulting in a uniform expression of a trait.

Homologous Chromosomes

Pairs of chromosomes in a diploid organism, one inherited from each parent, that have corresponding gene sequences and structures.

Crossing Over

A genetic process occurring during meiosis where homologous chromosomes exchange segments of genetic material to form recombinant chromosomes, contributing to genetic diversity.