This topic contains a solution. Click here to go to the answer

Author Question: Scooters are a normal good and buyers' incomes decrease. Which of the figures above best illustrates ... (Read 28 times)

melly21297

  • Hero Member
  • *****
  • Posts: 565
Scooters are a normal good and buyers' incomes decrease. Which of the figures above best illustrates how this change affects the demand curve for scooters?
 
  A) Figure A
  B) Figure B
  C) Figure C
  D) Figure D
  E) None of the above answers is correct because the decrease in income will affect the supply curve not the demand curve.

Question 2

Refer to the figure above. The economy is currently at E. Which of the following is likely to happen if a recession hits the economy? Assume that wages are downwardly rigid.
 
  A) The labor market equilibrium will move from E to F.
  B) The labor market equilibrium will move from E to D.
  C) The labor market equilibrium will move from E to G.
  D) The labor market equilibrium will move from E to H.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sailorcrescent

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

B

Answer to Question 2

C




melly21297

  • Member
  • Posts: 565
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)


scottmt

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

For a complete list of videos, visit our video library