A change in income will
a. affect the demand for candy through the income effect of a price change
b. affect the quantity demanded of candy through the income effect of a price change
c. shift the demand curve for candy
d. have no effect on the demand for candy, because income is assumed constant along a demand curve
e. affect quantity demanded only if candy is a normal good
C
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Refer to the scenario above. Which of the following combinations will lie above Jack's production possibilities curve?
A) 2 paintings and 3 sculptures B) 5 sculptures only C) 10 paintings only D) 3 paintings and 5 sculptures
What are the institutions that make up the nation's banking system?
What will be an ideal response?
From the Monetarist perspective, an autonomous downward shift in investment will
A) shift the aggregate demand curve to the left. B) shift the aggregate demand curve to the right. C) have little effect on the aggregate demand curve. D) cause a downward shift in the consumption function.
A production function is a(n)
A. technological relationship. B. economic relationship. C. accounting relationship. D. cost relationship.