Author Question: If in the market for apples the supply has decreased, then A) the supply curve for apples has ... (Read 130 times)

Beheh

  • Hero Member
  • *****
  • Posts: 520
If in the market for apples the supply has decreased, then
 
  A) the supply curve for apples has shifted to the right.
  B) there has been a movement upwards along the supply curve for apples.
  C) there has been a movement downwards along the supply curve for apples.
  D) the supply curve for apples has shifted to the left.

Question 2

Health care is generally considered a normal good. Briefly explain what you would expect to see happen to spending on health care over time, with health care being considered as a normal good.
 
  What will be an ideal response?



daiying98

  • Sr. Member
  • ****
  • Posts: 354
Answer to Question 1

D

Answer to Question 2

With a normal good, as income increases, spending on the good also increases. Since income levels tend to increase over time, you should expect to see spending on health care increase over time.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

For a complete list of videos, visit our video library