When a good is normal:
A. an increase in income raises consumption at each price, so the demand curve shifts to the left.
B. an increase in income raises consumption at each price, so the demand curve shifts to the right.
C. a decrease in income lowers consumption at each price, so the demand curve shifts to the right.
D. an increase in income lowers consumption at each price, so the demand curve shifts to the left.
B. an increase in income raises consumption at each price, so the demand curve shifts to the right.
You might also like to view...
In a particular year, if the real GDP of Country Y is $400,000 and the nominal GDP of Country Y is $450,000, the GDP deflator is ________
A) 115 B) 112.5 C) 102 D) 0.17
Stock options for corporate managers plays a part in handling the conflict between management and __________ in __________-oriented financial systems
A) bankers; markets B) bankers; banking C) stockholders; markets D) stockholders; banking
Recall the Application about the impact of disability insurance benefits on the labor force participation rate to answer the following question(s).From the Application, which of the following federal programs provide income protection to individuals with disabilities?
A. Social Security Disability Insurance (SSDI) B. Supplemental Security Income (SSI) C. Medicare D. Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI)
Favored customers receive special treatment from dealers during periods of excess demand.
Answer the following statement true (T) or false (F)