Multiple Choice
When income increases, the demand curve for X shifts rightward and the demand curve for Y shifts leftward. These shifts mean that
A) X and Y are both normal goods.
B) X is a normal good and Y is an inferior good.
C) X is an inferior good and Y is a normal good.
D) X and Y are complements.
Correct Answer:
Verified
Correct Answer:
Verified
Q5: A relative price is<br>A) the ratio of
Q7: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -In the above
Q8: Which of the following is true?<br>A) An
Q9: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -The above table
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Q12: Which of the following shifts the demand
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