Pizza Is a Normal Good

question 88

Multiple Choice

Pizza is a normal good.If students' incomes at your university increase,the effect on pizza will be:

• A) an increase in demand.
• B) an increase in the quantity demanded.
• C) a decrease in demand.
• D) no change in demand.

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Definitions:

Federal Income Tax

A tax levied by the U.S. federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.

Medical Insurance

An insurance policy that covers the cost of medical and surgical treatments for the policyholder.

FICA Tax

Federal Insurance Contributions Act tax; a U.S. payroll tax funding Social Security and Medicare, paid by both employees and employers.

Federal Income Tax

A tax levied by the United States federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.