After Joyce and Larry purchased their first house, they made additional home improvements in response to increases in income. After a while, their income rose so much that they could afford a larger home
Once they realized they would be moving, they reduced the amount of home improvements. Their Engel curve for home improvements on their current home is A) negatively sloped.
B) flat.
C) positively sloped.
D) backward bending.
D
Economics
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A) cheaper; cheaper B) cheaper; more expensive C) more expensive; cheaper D) more expensive; more expensive
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The aggregate demand curve depicts a negative relationship between real GDP and the general price level
a. True b. False Indicate whether the statement is true or false
Economics