As the income of bus riders increased, the wages of bus drivers increased simultaneously. How does this affect the market for bus rides (inferior good)?
a. The demand curve will shift to the left; the supply curve will shift to the left
b. The demand curve will shift to the left; the supply curve will shift to the right
c. The demand curve will shift to the right; the supply curve will shift to the left
d. The demand curve will shift to the right; the supply curve will shift to the right
a
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National income equals gross national product minus
A) inventories. B) changes in inventories. C) depreciation. D) imports.
Which of the following groups believes that the economy will move toward and achieve equilibrium at full employment without inflation if government just keeps its hands off the economy?
a. classical school b. Keynesian school c. neo-Keynesian school d. rational expectations school e. supply-side school