🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
Economics
4
answers
0
watching
179
views
21 Oct 2020

Which of the following exhibits a positive relationship?

    1. Inflation increases as real GDP increases

    2. Demand for a good falls when tax increases

    3. Demand for a good falls when the price of a substitute good falls

    4. Demand for a good falls when the price of that good increases

Booster class
Macroeconomics
Skill
Graphs, variables, and economic models
Watch
4
answers
0
watching
179
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Kristelle Balando
Kristelle BalandoLv10
21 Oct 2020
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

The distinction between substitutes and complements is

A. substitute goods are used together while complementary goods are used for the same purposes.

B. when income​ increases, demand for a complementary good decrease while demand for a substitute good increases.

C. substitute goods are used for the same purposes while complementary goods are used together.

D. when income​ increases, demand for a substitute good increases while demand for a complementary good falls

A demand curve will shift out for any of the following reasons except:
 
A. Preference for a good increases.
B. The price of a substitute falls.
C. Income rises. 
D. The price of a complement falls. 

1. Use the following information to :

a. Compute income elasticity of demand if income increases from $10,000 to $15,000 and demand falls from 600 to 500. What kind of good is this? Using your computed value explain what happens to demand if income increases 11%.

b. Compute the cross elasticity of good X with respect to the price of good Y if the price of good Y increases from $100 to $120 and the demand for goodX increases from 2000 units to 4000units. What is the relationship between these two goods? Use price of good Y falls by 3%.

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in