Author Question: The graph illustrates the demand for peanuts. Peanuts are a normal good because the A) demand ... (Read 269 times)

magmichele12

  • Hero Member
  • *****
  • Posts: 559
The graph illustrates the demand for peanuts. Peanuts are a normal good because the
 
  A) demand curve shows that if the price of peanuts rises, there is a movement along the demand curve to a lower quantity demanded.
  B) demand for peanuts increases when income increases.
  C) demand for peanuts increases when the price of one of its substitutes rises.
  D) demand curve for peanuts slopes downward.
  E) peanuts have both substitutes and complements.

Question 2

In order for any given commodity to be considered money, it has to
 
  A) be issued and controlled by some governmental institution.
  B) have some intrinsic value.
  C) be generally acceptable as a means of payment.
  D) be used in barter transactions.
  E) be convertible into gold or silver.



javimendoza7

  • Sr. Member
  • ****
  • Posts: 293
Answer to Question 1

B

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

For a complete list of videos, visit our video library