Kariuki decreases his consumption of grapes after his income goes up. For Kariuki
A) grapes and income are substitute goods.
B) grapes and income are complementary goods.
C) grapes are an inferior good.
D) grapes are a superior good.
C
Economics
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If the ____ is/are fixed, a change in nominal income is equivalent to a change in real income
a. price level b. interest rates c. tastes and preferences d. future expectations
Economics
Joan has the following assets and liabilities:Credit card balance$1,000Cash$200Government bonds$3,000Checking$300Car loan balance$10,000Car$15,000 What is Joan's money demand?
A. $300 B. $500 C. $1,500 D. $200
Economics