If a good is a normal good, an increase in income will
A) decrease the quantity demanded of the good.
B) increase the demand for the good.
C) cause the demand curve for the good to shift to the left.
D) cause a movement down along the demand curve.
B
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In the market for French wines, an increase in demand is illustrated by:
A) a movement up the demand curve. B) a movement down the demand curve. C) a shift of the demand curve to the left. D) a shift of the demand curve to the right.
Payments to households not in exchange for goods and services currently produced are:
a. transfer payments. b. government purchases. c. consumption expenditures. d. investment expenditures.
Suppose the typical basket for the calculation of the CPI includes one computer. Since computers have gotten better over time as a result of technological change, what problem does this create for calculating the CPI?
There are many reasons why monopolies arise. Which of these is not one of them?