What is a normal good?
a. A good whose demand increases when income decreases
b. A good whose demand decreases when income decreases
c. A good whose demand increases when price increases
d. Both B&C
b
Economics
You might also like to view...
Refer to Figure 2-13. What is the opportunity cost of producing 1 ton of pineapples in Guatemala?
A) 1/2 of a ton of coconuts B) 1 1/3 tons of coconuts C) 2 tons of coconuts D) 180 tons of coconuts
Economics
Consider debt-equity swaps as an approach to debt reduction. Briefly describe how this works. State two arguments in favor of significant reliance on this strategy and two arguments against
What will be an ideal response?
Economics