In the Case of a Normal Good, an Increase in Consumers

question 232

Multiple Choice

In the case of a normal good, an increase in consumers' incomes would shift the

• A)demand curve inward
• B)supply curve inward
• C)supply curve outward
• D)supply and demand curves inward
• E)demand curve outward

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Definitions:

Culture

The shared values, norms, behaviors, and material objects that constitute a people's way of life.

Split Labor Market Theory

A theory that explains racial and ethnic conflict in the labor market as a result of divisions among workers based on differences in price of their labor.

Racist Attitudes

Prejudices or discriminatory beliefs based on the concept of race, where individuals or groups are treated differently based on perceived racial differences.

High-Wage Workers

Employees who receive compensation significantly above the average for their profession or region.