When income rises for the buyers of good X, the ____________ curve for good X will shift ________________
A) demand; rightward
B) demand; leftward
C) supply; rightward
D) supply; leftward
E) This question cannot be answered unless we know whether good X is a normal good, a neutral good, or an inferior good.
E
Economics
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The income effect implies that there is a positive relationship between
A) income and the unemployment rate. B) the unemployment rate and the inflation rate. C) aggregate supply and aggregate demand. D) monetary growth and interest rates.
Economics
Suppose you are a U.S. importer purchasing coffee from Guatemala at a dollar price of $10,000 . If the bank charges $0.12 per quetzal, you would have to buy 120,000 quetzals to settle the account with the Guatemalan exporter
a. True b. False Indicate whether the statement is true or false
Economics