The Income Effect of an Increase in the Price of Backpacks,a

question 31

Multiple Choice

The income effect of an increase in the price of backpacks,a normal good,is a(n) :

• A)decrease in the demand for backpacks.
• B)decrease in the quantity of backpacks demanded.
• C)decrease in the supply of backpacks.
• D)increase in the quantity of backpacks demanded.
• E)increase in the quantity supplied of backpacks.

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Definitions:

Reward Systems

The mechanisms through which organizations recognize and remunerate employees' contributions, often encompassing salary, bonuses, benefits, recognition, and promotions.

Performance Measures

Metrics or standards used to evaluate the efficiency, effectiveness, and productivity of an individual, organization, or process.

E-HRM

Stands for Electronic Human Resource Management, which is the use of technology to automate and enhance human resource processes and practices.

HR Staff Person

An individual working in the Human Resources department, responsible for managing employee-related processes such as recruitment, training, benefits, and compliance.