The statement, "John buys more of good X as his income increases, ceteris paribus," means
a. John's income is being held constant.
b. John's purchases of good X are being held constant.
c. John's income and purchases of this good are being held constant.
d. John's income is the only influence that is being allowed to change.
e. the price of this good is being allowed to change.
D
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A) 95, low (poorest) income B) 95, lower-middle income C) 73, lower-middle income D) 44, low (poorest) income E) 69, low (poorest) income
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a. gas stations. b. grocery stores. c. automobile production. d. farming.
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a. True b. False Indicate whether the statement is true or false