A Giffen good is a good for which an increase in the price
a. decreases the quantity supplied.
b. increases the quantity supplied.
c. decreases the quantity demanded.
d. increases the quantity demanded.
d
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As nominal Gross Domestic Product (GDP) rises, the transactions demand for money
A) decreases, and the money demand curve shifts to the left. B) remains constant, and the money demand curve remains the same. C) increases, and the money demand curve shifts to the left. D) increases, and the money demand curve shifts to the right.
Under the Bretton Woods system, a country could alter its exchange rate
A) by changing its value relative to gold. B) whenever it determined that there was a fundamental disequilibrium. C) only when the IMF permitted due to a fundamental disequilibrium. D) under no circumstances.