When income falls
A) the demand for a normal goods rises.
B) the demand for an inferior goods rises.
C) there is a movement downward along the demand curve for a normal good.
D) there is a movement downward along the demand curve for an inferior good.
B
Economics
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As the price of cell phones fell during the last decade, consumers' total expenditures on cell phones increased. If the demand curve for cell phones did not shift, this fact means that the demand for cell phones
A) must have shifted leftward. B) must be upward sloping. C) is elastic. D) is inelastic.
Economics
Since the end of 2008, the Federal Reserve has adopted an unconventional monetary tool called
A) quantitative easing. B) open market operation. C) change required reserve ratio. D) discount loan.
Economics