Suppose people buy more of good 1 when the price of good 2...

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Suppose people buy more of good 1 when the price of good 2 falls. These

Suppose people buy more of good 1 when the price of good 2 falls. These goods are A) complements. B) substitutes. C) normal. D) inferior. Answer: A
As the opportunity cost of a good decreases, people buy
People come to expect that the price of a gallon of gasoline will rise next week. As a result,
The demand curve for a normal good shifts left-ward if income ____ or the expected future price ____.
If income increases or the price of a complementfalls, A) the demand curve for a normal good shifts left-ward. B) the demand curve for a normal good shifts rightward. C) the supply curve of a normal good shifts left-ward. D) the supply curve of a normal good shifts right-ward. Answer: B
If income decreases or the price of a complement rises,
A consumer might consider in-line skates and elbow-pads to be
A decrease in the price of a game of bowling shifts the
Normal goods are those for which demand decreases as A) the price of a complement falls. B) the price of a substitute falls. C) income decreases. D) the good’s own price rises. Answer: C
A normal good is a good for which
Most goods

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