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Author Question: If consumers' incomes increase and the demand for bus rides decreases A) bus rides are a normal ... (Read 62 times)

newyorker26

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on: Jun 29, 2018
If consumers' incomes increase and the demand for bus rides decreases
 
  A) bus rides are a normal good.
  B) consumers are behaving irrationally.
  C) bus rides are an inferior good.
  D) none of the above.

Question 2

The real interest rate is found by dividing the nominal interest rate by the CPI. Is this statement true or false?
 
  What will be an ideal response?


allisonblackmore

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

C

Answer to Question 2

The statement is false. The real interest rate equals the nominal interest rate minus the inflation rate, not divided by it.


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