For most goods, a rise in people’s income means that there will be
a. a rise in prices
b. a substitution effect.
c. an increase in demand.
d. a decrease in demand.

Question

16-02-2016
Business

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For most goods, a rise in people’s income means that there will be
a. a rise in prices
b. a substitution effect.
c. an increase in demand.
d. a decrease in demand.

Respuesta :

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cmontoyacastillo cmontoyacastillo · Answer 1 · 2016-02-16T22:24:45+01:00

cmontoyacastillo cmontoyacastillo

16-02-2016

C. An increase in demand.

Because people will have more money available for demanding further of those goods. Certain exceptions apply to these rule.

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For most goods, a rise in people’s income means that there will be a. a rise in prices b. a substitution effect. c. an increase in demand. d. a decrease in demand.

Respuesta :

Otras preguntas

For most goods, a rise in people’s income means that there will be
a. a rise in prices
b. a substitution effect.
c. an increase in demand.
d. a decrease in demand.