A normal good is a good for which a there are very

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The demand for a good increases when the price of a substitute

A normal good is a good for which A) there are very few complements. B) demand increases when income increases. C) there are few substitutes. D) demand decreases when income increases. Answer: B
Most goods
A normal good is a good for which demand
Inferior goods are those for which demand in-creases as
A) want that is not expressed by demand. B) normal substitute good. C) good for which demand decreases when its price rises. D) good for which demand decreases when income increases. Answer: D If a good is an inferior good, then purchases of that good will decrease when A) income increases. B) the price of a substitute rises. C) population increases. D) the demand for it increases. Answer: A
An inferior good is a good for which demand
Gruel is an inferior good. Hence, a decrease in people’s incomes
When economists speak of preferences as influencing demand, they are referring to
An unusually warm winter A) shifts the supply curve of gloves rightward.
B) shifts the supply curve of gloves leftward. C) shifts the demand curve for gloves rightward. D) shifts the demand curve for gloves leftward. Answer: D In 2000 there were 200,000 gas grills demanded at a price of $500. In 2001 there were more than 200,000 gas grills demanded at the same price. This increase could be the result any of the following EXCEPT

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