Which of the Following Is True

question 204

Multiple Choice

Which of the following is true?

• A)Because personal tastes differ, what are substitutes for one person may not be substitutes for another person.
• B)Two goods are substitutes if an increase in the price of one good causes an increase in the demand for the other good.
• C)Those goods for which rising income leads to decreased demand are called inferior goods.
• D)Either an increase in the number of buyers or an increase in tastes or preferences for a good or service will increase the market demand for a good or service.
• E)All of the above are true.

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Definitions:

United States

A country in North America consisting of 50 states and is a federal republic.

Terrible Twos

A colloquial term describing a developmental phase in toddlers characterized by mood swings, temper tantrums, and assertive behavior.

Right from Wrong

The moral cognitive ability to distinguish between ethical and unethical actions, behaviors, or decisions.

United States

A country located primarily in North America consisting of 50 states and is a federal republic.