For most goods and services,an increase in income will mean that the demand curve shifts to the left.
Correct Answer:
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Q15: Higher income usually means
A) a shift to
Q16: Market equilibrium is the point where quantity
Q17: Excess demand generally causes prices to go
Q18: With inferior goods,demand will increase with an
Q19: Movement along the demand curve means that
Q21: Because of global warming,countries that are cooler
Q22: Hurricane Katrina caused refineries and oil rigs
Q23: If supply increases,equilibrium price
A) falls.
B) rises.
C) remains
Q24: The selling prices of houses in 2003
Q25: Most markets,if left alone,will tend toward
A) equilibrium
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