For inferior goods, demand will fall when

A. price increases.
B. price decreases.
C. income decreases.
D. income increases.

Answer: D

Economics

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The two most comprehensive, widely accepted macroeconomic models are

A) the classical model and the supply-side model. B) the supply-side model and the real business cycle model. C) the classical model and the Keynesian model. D) the Austrian model and the Keynesian model.

Economics

What impact would a severe drought that destroys the wheat crop in several areas of the United States have on the market for wheat?

a. The supply of wheat would fall. b. The supply of wheat would rise. c. The demand for wheat would fall. d. The demand for wheat would rise.

Economics