Refer to the figure above. When the demand curve for gas is D1 and the supply curve for gas is S, the equilibrium price is:

If the demand for digital cameras increases when consumers' income rise, then digital cameras are

A) a normal good. B) an inferior good. C) a substitute good for video cameras. D) a complement to video cameras.

Refer to the above figure. How do you describe what is happening as the economy moves from point A to point C?

A) The economy has acquired new resources that are well suited for producing bread. B) Land that was once used to graze sheep is now being used to grow wheat. C) Resources are becoming unemployed. D) The technology for growing wheat has improved.