In the case of a normal good,
A) demand curves always slope downward.
B) the income effect and substitution effect are in the same direction.
C) the Engel curve slopes upward.
D) All of the above.
D
Economics
You might also like to view...
Refer to Figure 24-3. Suppose the economy is at point A. If government spending increases in the economy, where will the eventual long-run equilibrium be?
A) A B) B C) C D) D
Economics
Consider the following products. Which of them has the flattest demand curve?
A) insulin B) alcohol C) cigarettes D) butter
Economics