midnite maniac
New member
I cannot seem to find the following:
1) Which of the following will NOT cause an increase in demand for good x?
a) a decrease in income if good x is an inferior good.
b) an increase in income if good x is a normal good.
c) a decrease in the price of good x.
d) an increase in consumers' taste for good x.
2) A good is inferior if ________.
a) when income increases, demand remains unchanged.
b) when income increases, demand decreases.
c) when income increases, demand increases.
d) none of the above.
3) A technological advance in the production of automobiles will _______.
a) increase the demand for automobiles.
b) increase the supply of automobiles.
c) decrease the demand for automobiles.
d) decrease the supply of automobiles.
I would appreciate it if someone could please help me out on this. This is frustrating when you get no where in looking them up. Thanks everyone!
1) Which of the following will NOT cause an increase in demand for good x?
a) a decrease in income if good x is an inferior good.
b) an increase in income if good x is a normal good.
c) a decrease in the price of good x.
d) an increase in consumers' taste for good x.
2) A good is inferior if ________.
a) when income increases, demand remains unchanged.
b) when income increases, demand decreases.
c) when income increases, demand increases.
d) none of the above.
3) A technological advance in the production of automobiles will _______.
a) increase the demand for automobiles.
b) increase the supply of automobiles.
c) decrease the demand for automobiles.
d) decrease the supply of automobiles.
I would appreciate it if someone could please help me out on this. This is frustrating when you get no where in looking them up. Thanks everyone!