What must be true in terms of the income effect, the substitution effect, and the type of good for the good's demand curve to be upward sloping?
What will be an ideal response?
The income effect would have to be larger than the substitution effect, and the good would have to be an inferior good.
Economics
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Conducting the nation's monetary policy is the duty of the
A) Department of Commerce. B) U.S. Treasury department. C) Federal Reserve System. D) Federation of Banks. E) Federal Bank Supervisor.
Economics
Economic growth will
A) shift the production possibilities curve inward. B) shift the production possibilities curve outward. C) shift along the production possibilities curve toward the X-axis. D) be a movement from inside the productions possibilities curve to the curve itself.
Economics