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Author Question: Which of the following statements best describes a normal good? A) A normal good is a good that ... (Read 113 times)

asd123

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  • Posts: 557
on: Jun 29, 2018
Which of the following statements best describes a normal good?
 
  A) A normal good is a good that is rationed by the government.
  B) A normal good is a good that is readily available in the market.
  C) A normal good is a good whose supply increases as its price decreases.
  D) A normal good is a good whose demand increases with an increase in consumers' income.

Question 2

Which of the following is likely to cause flour mills to increase their demand for labor?
 
  A) A decrease in the wage rate
  B) An increase in the wage rate
  C) An increase in the price of bread
  D) A decrease in the price of flour products


skipfourms123

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


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