Which of the following will NOT lead to an increase in demand for a normal good?

A. an increase in income
B. a decrease in the price of a complement good
C. an increase in the number of consumers
D. an increase in the price of an input


Answer: D

Economics

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If the price of a good falls and expenditure on the good rises, the demand for the good is _______

A. elastic B. perfectly elastic C. inelastic D. unit elastic

Economics

A PPF can

What will be an ideal response?

Economics

Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen asĀ 

A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward

Economics

Using a credit card can best be likened to

A) taking out a loan. B) a barter exchange. C) using currency only as a means of payment. D) using any other form of money as a means of payment.

Economics