A recession occurs and people's incomes decrease. Knowing that an iPad is a normal good, you predict that the demand for an iPad

Name: A recession occurs and people's incomes decrease. Knowing that an iPad is a normal good, you predict that the demand for an iPad
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Question

Quizplus · Accepted Answer

When people's incomes decrease, the demand for a normal good, such as an iPad, typically decreases because consumers have less disposable income to spend on goods that are not necessities.

A Recession Occurs and People's Incomes Decrease