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

asked Apr 20, 2017 204k views

1 Answer

← Prev Question Next Question →

Ask a Question

Tgilgul · Answer 1 · 2017-04-25T21:43:55+0000

C. An increase in demand.

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

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.

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

No related questions found

Categories

Other Questions