Jeep Cherokees are a normal good. If people's incomes increase, the direct result will be
A) an increase in the supply of the vehicles.
B) a decrease in the demand for the vehicles.
C) an increase in the demand for the vehicles.
D) Both answers A and C are correct.
C
Economics
You might also like to view...
The maximum amount of a good that may be imported during a specified period of time is
A) an infant industry agreement. B) an import quota. C) dumping. D) comparative advantage.
Economics
The prisoner's dilemma is a game of strategy:
A. in which people make rational choices that lead to the ideal result for all. B. that leads everyone to be as well off as possible without making another worse off. C. in which people make rational choices that lead to a less-than-ideal result for all. D. that leads people to make irrational choices that lead to the ideal result for all.
Economics