An Increase in the Price of Good X Will Be

question 28

Multiple Choice

An increase in the price of good x will be accompanied by

• A)a shift in the market demand curve for good x.
• B)a shift in the market demand curve for good y (a substitute for good x).
• C)a movement along the market demand curve for good x.
• D)a shift in the market demand curve for good y (a substitute for good x)and a movement along the market demand curve for good x.

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Definitions:

Proprietary Fund

A type of governmental accounting fund used to account for activities that are similar to those found in the private sector, where the intent is to recover costs through user charges.

Financial Statement

Documented records summarizing a business's financial condition and operations over a period.

Statement of Net Position

A financial statement detailing an entity's assets, liabilities, and net position at a particular point in time, providing a snapshot of financial health.