Which of the following is the most open economy?

Which of the following statements best describes a normal good?

A) A normal good is a good that is rationed by the government. B) A normal good is a good that is readily available in the market. C) A normal good is a good whose supply increases as its price decreases. D) A normal good is a good whose demand increases with an increase in consumers' income.

An increase in product price implies that

A) the firm's marginal factor cost will increase. B) the wage rate the firm pays will increase. C) the firm's demand for labor increases. D) the firm's demand for labor decreases.