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ECON 3411 Chapter 2: Chapter 2 Solution.pdf

Canada

Managerial Economics and Strategy

Economics

York University

Intermediate Macroeconomic Theory II

Introductory Statistics for Economists I

International Monetary Economics

<p>If z is an inferior good, an increase in money income will shift the:</p>
<p style="padding-left: 40px;">A. supply curve for z to the left.<br>B. supply curve for z to the right.<br>C. demand curve for z to the left.<br>D. demand curve for z to the right.</p>

<p><span class="rvTxt fNormal">If Hamburger Helper is an inferior<span class="wbr">​</span><span class="nowrap"> good,</span> then, </span><span class="rvTxt fNormal_1">ceteris </span><span class="rvTxt fNormal_1">paribus</span><span class="rvTxt fNormal"><span class="wbr">​</span><span class="nowrap">, </span></span><span class="rvTxt fNormal">a decrease in income will lead to?</span></p>
<p>A. rightward shift of the supply curve of Hamburger Helper.</p>
<div id="xl_player_controls_MultipleChoiceAnswer_36" class="dijitLayoutContainer dijitContainer mcAnswerOverflow dijitLayoutContainer-child dijitLayoutContainer-dijitLayoutContainer" data-dojo-type="xl.player.controls.MultipleChoiceAnswer" data-dojo-props='label:"B.",multi:0,embeddedinputs:"",accessible:false'>
<div id="xl_player_controls__MultipleChoiceAnswerButton_36" class="mcButtonArea mcAnswer">
<div class="dijit dijitReset dijitInline dijitRadio" role="presentation">B. a movement down along the demand curve for Hamburger Helper.</div>
</div>
</div>
<div id="xl_player_controls_MultipleChoiceAnswer_37" class="dijitLayoutContainer dijitContainer mcAnswerOverflow dijitLayoutContainer-child dijitLayoutContainer-dijitLayoutContainer" data-dojo-type="xl.player.controls.MultipleChoiceAnswer" data-dojo-props='label:"C.",multi:0,embeddedinputs:"",accessible:false'>
<div id="xl_player_controls__MultipleChoiceAnswerButton_37" class="mcButtonArea mcAnswer">
<div class="dijit dijitReset dijitInline dijitRadio" role="presentation"> </div>
<label for="dijit_form_RadioButton_37" aria-hidden="true">C. </label>a rightward shift of the demand curve for Hamburger Helper.</div>
</div>
<div id="xl_player_controls_MultipleChoiceAnswer_38" class="dijitLayoutContainer dijitContainer mcAnswerOverflow dijitLayoutContainer-child dijitLayoutContainer-dijitLayoutContainer" data-dojo-type="xl.player.controls.MultipleChoiceAnswer" data-dojo-props='label:"D.",multi:0,embeddedinputs:"",accessible:false'>
<div id="xl_player_controls__MultipleChoiceAnswerButton_38" class="mcButtonArea mcAnswer">
<div class="dijit dijitReset dijitInline dijitRadio" role="presentation"> </div>
<label for="dijit_form_RadioButton_38" aria-hidden="true">D. </label>a leftward shift of the demand curve for Hamburger Helper.</div>
</div>
<div id="xl_player_controls_MultipleChoiceAnswer_39" class="dijitLayoutContainer dijitContainer mcAnswerOverflow dijitLayoutContainer-child dijitLayoutContainer-dijitLayoutContainer" data-dojo-type="xl.player.controls.MultipleChoiceAnswer" data-dojo-props='label:"E.",multi:0,embeddedinputs:"",accessible:false'>
<div id="xl_player_controls__MultipleChoiceAnswerButton_39" class="mcButtonArea mcAnswer">
<div class="dijit dijitReset dijitInline dijitRadio" role="presentation"> </div>
<label for="dijit_form_RadioButton_39" aria-hidden="true">E. </label>a movement up along the demand curve for Hamburger Helper.</div>
</div>

<div>A decrease in income will shift the demand curve for an inferior good to the right. True or false</div>

ECON 3411 Chapter 2: Chapter 2 Solution.pdf

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