If the demand for a good decreases when your income

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45. If the demand for a good decreases when your income increases, then the good isA)an economic badB)a normal goodC)an inferior goodD) expensive
46. Consider a demand curve for pork.If the price of beef decreases while the priceof pork stays the same, then I would consume less pork because.
47. Consider a demand curve for tortilla chips.If the price of salsa decreases whilethe price of tortilla chips stays the same, then I would consume more tortilla chipsbecause.
48. Which of the following is most likely to shift the demand curve for a good to theright (outward)?
49.If an increase in the price of peaches reduces the demand for cream, thisindicates that peaches and cream areA)normal goods.B)inferior goods.C)complements.D) substitutes.
50.Consider a demand curve for potato chips.We movealongthe demand curvewhen
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51. Consider a demand curve for Oreos.If the price of milk decreases while theprice of Oreos stays the same, then I would consume more Oreos because.
52.Consider a supply curve for raw lumber (wood).If, all of the sudden there is ahuge fire that burns half of all trees in the world, then the supply curve for rawlumber
53.If there is an excess supply of a good, we expect thatA)The price of the good will rise.B)The supply curve for the good will shift to the leftC)The demand curve for the good will shift to the right.D)The price of the good will fall.
54. Which of the following is most likely to increase the equilibrium price chargedand increase the equilibrium quantity of customers at Dunkin Donuts?

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Term
Fall
Professor
Cramer
Tags
Economics, Supply And Demand, Flo Rida, Avicii
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Exploring Macroeconomics
The document you are viewing contains questions related to this textbook.
Chapter 5 / Exercise 2a
Exploring Macroeconomics
Sexton
Expert Verified

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