Suppose a long lost relative died and left you a trust fund worth $1 million that you will receive ten years from now. What effect, if any, will this have on your demand for airline travel? (Assume that airline travel is a normal good.)
What will be an ideal response?
This will likely increase your demand for airline travel, shifting the curve to the right.
Economics
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If the government cuts taxes ________
A) disposable income falls B) planned expenditures rise C) the IS curve shifts to the left D) all of the above E) none of the above
Economics
Combinations of two goods along the indifference curve yield:
a. equal prices for the two goods. b. equal marginal utilities. c. the same total utility. d. zero total utility.
Economics