Assuming that bus travel is an inferior good, an increase in consumer income, other things being equal, will cause a(n):
a. upward movement along the demand curve for bus travel.
b. downward movement along the demand curve for bus travel.
c. rightward shift in the demand curve for bus travel.
d. leftward shift in the demand curve for bus travel.
d
Economics
You might also like to view...
Use the above table. At an income of $150
A) real saving is $20. B) real dissaving is $50. C) real saving is $10. D) real dissaving is $10.
Economics
Describe the debt-deflation process
What will be an ideal response?
Economics
A lump sum tax is one for which the individual's liability does not depend on behavior.
A. True B. False C. Uncertain
Economics
A consumer's budget line is very similar to a demand curve in that both curves show the possible combination of two goods.
Answer the following statement true (T) or false (F)
Economics