There is an increase in both consumer income and in the price of jet fuel, an important resource used to produce air travel. If air travel is a normal good, how will these changes influence the price and quantity purchased of air travel? The change in the price of air travel will (be) and the change in the quantity purchased will (be)

a. indeterminate; decrease
b. increase; indeterminate
c. decrease; indeterminate
d. indeterminate; increase

Economics

Which of the following countries are lacking an abundance of natural resources?

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Economics

The five most important variables that determine the level of consumption are

What will be an ideal response?

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Economics