The quantity demanded of an input normally rises as its price rises
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Country X exports 10 million tonnes of wheat to Country Y. Which of the following will happen in this case?
A) Country X's GNP will decrease. B) Country Y's GNP will increase. C) Country Y's GDP will increase. D) Country X's GDP will increase.
Economics
When income increases, the demand curve for X shifts rightward and the demand curve for Y shifts leftward. These shifts mean that
A) X and Y are complements. B) X and Y both normal goods. C) X is an inferior good and Y is a normal good. D) X is a normal good and Y is an inferior good.
Economics