Good Y is an inferior good. If the average income of those who buy good Y rises, the _____________ curve for good Y will shift ____________ resulting in a(n) _____________ in the equilibrium price of Y and a(n) ____________ in the equilibrium quantity of Y
A) supply; rightward; decrease; increase.
B) demand; leftward; decrease; decrease
C) demand; rightward; increase; increase
D) supply; leftward; increase; decrease
E) supply; leftward; increase; increase
B
Economics
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A tax cut will unambiguously lower income-tax revenue
Indicate whether the statement is true or false
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Tradable allowances are like quotas in that they both:
A. reduce the quantity bought and sold to the efficient level. B. maximize surplus. C. are efficient. D. All of these statements are true.
Economics