The Demand Curve for a Normal Good Will Shift to the Right

question 6

Multiple Choice

The demand curve for a normal good will shift to the right if:

• A)income increases.
• B)population increases.
• C)the price of a substitute good increases.
• D)all the above.
• E)none of the above.

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Definitions:

National Output

The total value of all goods and services produced by a country's economy in a specific period.

Economic Units

Entities such as households, businesses, and governments that engage in economic activities including production, consumption, and exchange of goods and services.

Positive Statement

An objective analysis or statement based on factual information, without any subjective or opinion-based commentary.

Balance Of Trade

The difference in value between a country's imports and exports over a certain period of time.