If the prices of all goods increase by the same proportion as income, the quantity demanded of good X will
a. decrease.
b. increase.
c. remain unchanged.
d. change in a way that cannot be determined from the information given.
c
You might also like to view...
One way the United States has tried to encourage welfare recipients to acquire human capital is by
A) providing a free college education. B) setting a 1-year limit on temporary assistance. C) tax rebates. D) requiring a adult member of the household to either work or perform community service.
The legislation that effectively prohibited banks from branching across state lines and forced all national banks to conform to the branching regulations in the state in which they reside is the
A) McFadden Act. B) National Bank Act. C) Glass-Steagall Act. D) Garn-St.Germain Act.
If the dollar appreciates, American consumers will buy more foreign goods and services
a. True b. False Indicate whether the statement is true or false
The institution that sets the nation's monetary policy is called the