Asked by
Tatyana Henry
on Oct 09, 2024
Verified
If X is a normal good,a rise in money income will shift the:
A) supply curve for X to the left.
B) supply curve for X to the right.
C) demand curve for X to the left.
D) demand curve for X to the right.
Normal Good
A good for which demand increases as the consumer’s income increases, holding all other factors constant.
Money Income
The total amount of monetary earnings received by an individual or household from various sources, including wages, salaries, and investments.
- Understand the factors that cause shifts in demand curves for goods and services.
Verified Answer
EP
Learning Objectives
- Understand the factors that cause shifts in demand curves for goods and services.