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Author Question: Scooters are a normal good and buyers' incomes decrease. Which of the figures above best illustrates ... (Read 31 times)

melly21297

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on: Jun 30, 2018
Scooters are a normal good and buyers' incomes decrease. Which of the figures above best illustrates how this change affects the demand curve for scooters?
 
  A) Figure A
  B) Figure B
  C) Figure C
  D) Figure D
  E) None of the above answers is correct because the decrease in income will affect the supply curve not the demand curve.

Question 2

Refer to the figure above. The economy is currently at E. Which of the following is likely to happen if a recession hits the economy? Assume that wages are downwardly rigid.
 
  A) The labor market equilibrium will move from E to F.
  B) The labor market equilibrium will move from E to D.
  C) The labor market equilibrium will move from E to G.
  D) The labor market equilibrium will move from E to H.


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sailorcrescent

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

C


melly21297

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Reply 2 on: Jun 30, 2018
:D TYSM

mcabuhat

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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