A representative unit that measures the want-satisfying power of a good is
A. purchasing power.
B. a margin.
C. income.
D. a util.
Answer: D
Economics
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If a decrease in income leads to a decrease in the demand for ice cream, then ice cream is
A) a complement. B) a necessity. C) a normal good. D) a neutral good.
Economics
A downward-sloping demand curve illustrates a. that demand increases
b. that prices fall. c. the relationship between income and demand. d. the law of demand.
Economics