For a normal good, an increase in consumer income will cause the market demand for the product to:
A. decrease, which is a shift to the left of the demand curve.
B. decrease, which is a shift to the right of the demand curve.
C. increase, which is a shift to the left of the demand curve.
D. increase, which is a shift to the right of the demand curve.
Answer: D
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Suppose the price of a movie falls from $9 to $7. Using the midpoint method, what is the percentage change in price?
A) 33 percent B) -33 percent C) 25 percent D) -25 percent E) -97 percent
The largest merger in the history of the world was between _______ and _________.
Fill in the blank(s) with the appropriate word(s).
Regarding the role of saving in economic growth, studies indicate that
A) there is both a positive and a negative relationship between economic growth and saving. B) there is a positive relationship between economic growth and saving. C) there is a negative relationship between economic growth and saving. D) there is no relationship between economic growth and saving.
The Phillips curve traces a set of combinations of rates of:
a. interest and unemployment. b. real GDP and inflation. c. real GDP and interest. d. inflation and interest. e. unemployment and inflation.