You observe that the price of a good rises and the quantity decreases. These observations can be the result of______. Select one: a. the supply curve shifting leftward. b. the demand curve shifting leftward. c. the demand curve shifting rightward. d. the supply curve shifting rightward 2 . Inferior goods are those for which demand increases as Select one: a. the price of a substitute falls. b. the price of a substitute rises. c. income increases. d. income decreases.
You observe that the price of a good rises and the quantity decreases. These observations can be the result of______. Select one: a. the supply curve shifting leftward. b. the demand curve shifting leftward. c. the demand curve shifting rightward. d. the supply curve shifting rightward 2 . Inferior goods are those for which demand increases as Select one: a. the price of a substitute falls. b. the price of a substitute rises. c. income increases. d. income decreases.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
1. You observe that the price of a good rises and the quantity decreases. These observations can be the result of______.
Select one:
a. the supply curve shifting leftward.
b. the demand curve shifting leftward.
c. the demand curve shifting rightward.
d. the supply curve shifting rightward
2 .
Inferior goods are those for which demand increases as
Select one:
a. the price of a substitute falls.
b. the price of a substitute rises.
c. income increases.
d. income decreases.
3.
A normal good is a good for which demand
Select one:
a. decreases when population increases.
b. increases when income increases.
c. decreases when income increases.
d. increases when population increases.
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