When a good is normal:
A. an increase in income raises consumption at each price, so the demand curve shifts to the left.
B. an increase in income raises consumption at each price, so the demand curve shifts to the right.
C. a decrease in income lowers consumption at each price, so the demand curve shifts to the right.
D. an increase in income lowers consumption at each price, so the demand curve shifts to the left.
B. an increase in income raises consumption at each price, so the demand curve shifts to the right.
You might also like to view...
Some time ago the government of China required many highly skilled technicians and scientists to engage in unskilled agricultural labor in order to develop "proper social attitudes." This policy probably caused China to produce
A) at an inappropriate point along its production possibilities frontier. B) outside its production possibilities frontier with respect to food, but inside with respect to high-technology goods. C) inside its production possibilities frontier with respect to food, but outside with respect to high-technology goods. D) inside its production possibilities frontier.
___________ are repetitive, often unconscious, patterns of behavior
a. Goals b. Values c. Habits d. Attitudes