Which One of the Following Statements Is FALSE

question 2

Multiple Choice

Which one of the following statements is FALSE?

• A) Generally, what matters most to consumers is what a good costs in dollars.
• B) The relative price of a good is its price measured relative to the price of other goods.
• C) The nominal price of a good is its price measured in current dollars.
• D) When the price of beer goes up by the same proportion as the prices of all other goods, the relative price of beer does not change.

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Definitions:

Social Pressure

The influence that is exerted on individuals by others, often leading to conformity or changes in behavior, belief, or attitude.

American Culture

The set of customs, traditions, languages, practices, and values shared by the people of the United States.

Prescriptions

Authorized directions provided by a licensed healthcare practitioner for the preparation and administration of a remedy or treatment.

Proscriptions

Rules or laws that forbid certain actions or behaviors.