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Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn
Edition 20ISBN: 978-0077660895Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn
Edition 20ISBN: 978-0077660895 Exercise 14
What effect will each of the following have on the demand for small automobiles such as the Mini-Cooper and Smart car?
A) Small automobiles become more fashionable.
B) The price of large automobiles rises (with the price of small autos remaining the same).
C) Income declines and small autos are an inferior good.
D) Consumers anticipate that the price of small autos will greatly come down in the near future.
E) The price of gasoline substantially drops.
A) Small automobiles become more fashionable.
B) The price of large automobiles rises (with the price of small autos remaining the same).
C) Income declines and small autos are an inferior good.
D) Consumers anticipate that the price of small autos will greatly come down in the near future.
E) The price of gasoline substantially drops.
Explanation
Verified
Verified
B) The price of large automobile rises t...
Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn
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