Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please answer both questions
Transcribed Image Text:3. Which direction will the demand curve shift if consumers' income rise?
Questions:
A. To the right
B. To the left
C. Upward
D. Downward
4. Which of the following terms refers to the amount of money consumers have available to spend on products?
Questions:
A. Inelastic demand.
B. Elastic demand.
C. An income effect.
D. substitution effect.
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