The figure above shows the demand for fruit snacks. Which movement reflects an increase in income if fruit snacks are an inferior good?
A) from point a to point e
B) from point a to point b
C) from point a to point c
D) from point a to point d
C
Economics
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If the economy is on the LM curve, but is to the right of the IS curve, then the ________ market is in equilibrium, but aggregate ________ exceeds aggregate ________
A) goods; output; demand B) goods; demand; output C) money; output; demand D) money; demand; output
Economics
If incomes are rising, in the market for an inferior good,
a. its price will rise and the quantity exchanged will rise. b. its price will rise and the quantity exchanged will fall. c. its price will fall and the quantity exchanged will rise. d. its price will fall and the quantity exchanged will fall.
Economics