If an inverse relationship exists between two variables, then:
A. As one variable increases, the other decreases
B. As one variable increases, so does the other
C. The two variables are close substitutes for each other
D. Both variables increase over time
Answer: A
Economics
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According to the law of demand, an increase in the price of a good causes
A) a rightward shift of the demand curve for that good. B) a leftward shift of the demand curve for that good. C) an upward movement along the demand curve for that good. D) a downward movement along the demand curve for that good.
Economics
Which of the following is not an autonomous determinant of consumption expenditures?
a. real wealth b. the interest rate c. tastes and preferences d. current disposable income
Economics