If consumer income increases, then the demand for an inferior good shifts right
a. True
b. False
Indicate whether the statement is true or false
False
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The social interest theory of regulation is that
A) regulators help producers maximize economic profit. B) regulation seeks to increase the government's revenue. C) regulation causes producers to produce at a point where they are earning normal profits. D) regulation seeks an efficient use of resources. E) regulation focuses on the consumers' interests and ignores producers' interests.
An input-output table
A) details the flows of goods and services between various sectors of the economy. B) shows purchases by certain industries from other industries. C) shows sales by certain industries to other industries. D) All of the above.
Which of the following is the mandate of the European Central Bank?
A) high economic growth B) price stability C) low unemployment D) a fixed exchange rate
Downward shifts are a. increases in both demand and supply
b. decreases in both demand and supply. c. increases in demand and decreases in supply. d. increases in supply and decreases in demand.