A normal good is defined by economists to be a good:
a. with a negatively-sloped demand curve.
b. that is purchased by at least 75 percent of the population.
c. that is bought by consumers with normal tastes.
d. whose demand increases when incomes increase.
e. whose demand decreases when incomes increase.
d
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One of the shortcomings of the government's method of measuring unemployment tends to make the official unemployment rate an overestimate of the unemployment problem:
A) people working less than twenty hours a week are counted as unemployed. B) people seeking part-time jobs are counted as fully unemployed. C) people who have given up looking for work are counted as fully unemployed. D) "discouraged workers" aren't counted as unemployed.
Concerns about the bankruptcy of an appliance manufacturer diminish after a new CEO is appointed and some of the company's less productive factories are sold. What type of risk for bondholders falls? What happens to the interest rate on this company's bonds?