To determine whether a particular good is a normal good, a luxury good, or an inferior good, you would want to observe what happens to demand for the good when __________ changes.

In the above figure, the budget line would rotate in the direction indicated as a result of a

A) rise in the price of a book. B) fall in the price of a book. C) rise in the price of a movie. D) decrease in income.

The tragedy of the commons was avoided in the Middle Ages by

A) the government which imposed a tax for the use of the commons. B) the local police who monitored entry into the commons. C) social pressure to uphold traditionally accepted limits on family use of the commons. D) selling common grounds to individuals.