The Treasury also implements monetary policy

Which of the following will reduce consumer expenditures?

A) a decrease in expected future income B) a decrease in interest rates C) a decrease in the price level D) a general increase in housing prices

Assume that when the price of good X is $12, quantity demanded is 32. When price is decreased to $9, quantity demanded increases to 45. Over this range, the arc elasticity of demand is 1.182

Indicate whether the statement is true or false