Assuming That Bus Travel Is an Inferior Good, a Decrease

question 67

Multiple Choice

Assuming that bus travel is an inferior good, a decrease in consumer income, other things being equal, will cause

• A) a downward movement along the demand curve for bus travel.
• B) no change in the demand curve for bus travel.
• C) an upward movement along the demand curve for air travel.
• D) a rightward shift in the demand curve for bus travel.

Recognize the importance of humility, stewardship, and authenticity in leadership.

Analyze the effects of organizational changes on leadership styles and employee autonomy.

Understand how leadership affects psychological capital within work groups.

Understand the relationship between Average Variable Cost (AVC), Average Fixed Cost (AFC), Marginal Cost (MC), and Average Total Cost (ATC).

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Definitions:

Birds

A group of endothermic vertebrates characterized by feathers, beaks without teeth, laying of hard-shelled eggs, a high metabolic rate, a four-chambered heart, and a strong yet lightweight skeleton.

Amniote

Vertebrate whose egg has waterproof membranes that allow the embryo to develop away from water; a reptile, bird, or mammal.

Amphibians

Cold-blooded vertebrates that typically begin life in water with gills and metamorphose, developing lungs to live both in water and on land.

Carnivores

Organisms that primarily eat meat, typically animals that have adaptations for hunting and consuming other organisms.