Multiple Choice
Betsy graduates from college,where she earned $3,000 a year working part-time,and takes a job as a third grade teacher,where she now earns $30,000 per year.About the same time she received her first paycheck,her bicycle was stolen.With her old income she would have purchased a new bike but with her new income she purchased a new car.Therefore,
A) bicycles are a normal good for Betsy
B) automobiles are an inferior good for Betsy
C) automobiles are a normal good for Betsy
D) Betsy's supply curve for automobiles is upward-sloping
E) bicycles and automobiles are complementary goods for Betsy
Correct Answer:

Verified
Correct Answer:
Verified
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