The effect of an increase in consumer income on equilibrium price and quantity of Florida orange juice (a normal good) is
a. to increase equilibrium price and quantity
b. to decrease equilibrium price and quantity
c. to increase equilibrium price and decrease equilibrium quantity
d. to increase equilibrium quantity and decrease equilibrium price
e. that equilibrium price and quantity remain constant
A
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Your nominal wage increases from $12 per hour to $13 per hour. At the same time, the price level increases from 140 to 147 . As a result,
a. The number of dollars you receive increases and the purchasing power of the dollars you receive increases. b. The number of dollars you receive increases and the purchasing power of the dollars you receive decreases. c. The number of dollars you receive decreases and the purchasing power of the dollars you receive increases. d. The number of dollars you receive decreases and the purchasing power of the dollars you receive decreases.
What are the tests used in police promotions?
What will be an ideal response?