Income effects are negative for normal goods, and positive for inferior goods.
Answer the following statement true (T) or false (F)
False
Rationale: Income effects are positive for normal goods and negative for inferior goods.
Economics
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Suppose that over the next few years, the demand for dancing to country and western music decreases. Hence, at country and western dance clubs, the equilibrium price of admission ________, and the equilibrium quantity of dancing ________
A) rises; increases B) falls; increases C) rises; decreases D) falls; decreases E) does not change; decreases
Economics
List the three coordination decisions made by every economy
a. Where? When? How? b. How? What? To whom? c. Why? Where? What? d. When? To Whom? Where?
Economics