If an Increase in Income Leads to an Increase in the Demand

question 169

Multiple Choice

If an increase in income leads to an increase in the demand for peanut butter,then peanut butter is

• A) a neutral good.
• B) a normal good.
• C) a necessity.
• D) a complement.

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Definitions:

Patented Fuel-Injection System

A legally protected innovation in the method or device for injecting fuel into an internal combustion engine.

Trademark Infringement

The unauthorized use of a trademark or service mark on competing or related goods and services, potentially confusing consumers.

Restitution

An equitable remedy under which a person is restored to his or her original position prior to loss or injury, or placed in the position he or she would have been in had the breach not occurred.

Counterfeit Prescription Drugs

Illegally produced medications that are made to look like genuine branded drugs but may contain incorrect or harmful ingredients.