How Does an Increase in Income Affect the Market of Ipads

question 2

Multiple Choice

How does an increase in income affect the market of ipads (normal good) ?

• A)The demand curve for ipads to shift to the right
• B)The demand curve for ipads to shift to the left
• C)The supply curve for ipads to shift to the right
• D)The supply curve for ipads to shift to the left

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Definitions:

Budget

An estimate of income and expenditure for a set period of time.

Government Spending

Financial expenditures by the government to influence a nation's economy, including investments in public services and infrastructure.

Taxation

The process by which a government collects money from individuals and businesses to fund public services and infrastructure.

Stabilizing

Actions or strategies aimed at maintaining or recovering economic balance and reducing volatility in financial markets or economies.