If tofu is a normal good, an increase in income will
a. decrease the price of tofu
b. decrease the production of tofu
c. shift the demand curve for tofu to the left
d. shift the demand curve for tofu to the right
e. decrease the quantity demanded of tofu
D
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Trade enhances the economic well-being of a nation in the sense that
a. both domestic producers and domestic consumers of a good become better off with trade, regardless of whether the nation imports or exports the good in question. b. the gains of domestic producers of a good exceed the losses of domestic consumers of a good, regardless of whether the nation imports or exports the good in question. c. trade results in an increase in total surplus. d. trade puts downward pressure on the prices of all goods.
The confidence you have that a retailer will accept dollars in exchange for goods is based primarily on money
a. being a unit of account. b. being a medium of exchange. c. serving as a store of value. d. having intrinsic value.