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For a normal good, an increase in consumer income will lead toI.a movement down the demand curveII.a ...

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For a normal good, an increase in consumer income will lead toI.a movement down the demand curveII.a ...

Question 1.

If an increase in the incomes of people who live in the Los Angeles area leads to an increase in the demand for season tickets for games played by the Los Angeles Lakers professional basketball team, then these season tickets are

• an income complement.

• an inferior good.

• an income substitute.

• a normal good.

Question 2.

For a normal good, an increase in consumer income will lead to

I.	a movement down the demand curve

II.	a rightward shift in the demand curve

III.	a reduction in supply

• I only.

• II only.

• III only.

• both II and III.

Textbook

Economics Today: The Micro View

Edition: 19^th

Author: Miller

Read 42 times

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