Author Question: When income falls A) the demand for a normal goods rises. B) the demand for an inferior goods ... (Read 109 times)

809779 · **on:** Jun 29, 2018

When income falls

A) the demand for a normal goods rises.
B) the demand for an inferior goods rises.
C) there is a movement downward along the demand curve for a normal good.
D) there is a movement downward along the demand curve for an inferior good.

Question 2

Expressing the U.S. federal budget deficit as a percentage of Gross Domestic Product (GDP)

A) results in inflation-adjusted revenue and expenditure numbers.
B) helps us understand the size of the deficit relative to the size of the economy.
C) was useful through the 1980s, but is no longer helpful because both the deficit and real Gross Domestic Product (GDP) have grown so large.
D) is only useful if the budget deficit is rising at an annual rate of more than 4 percent.