Given a Supply Curve That Is Positively Sloped and a Demand

question 80

Multiple Choice

Given a supply curve that is positively sloped and a demand curve for a normal good that is negatively sloped, an increase in income will most likely result in:

• A)an increase in equilibrium price and quantity.
• B)a decrease in equilibrium price and an increase in equilibrium quantity.
• C)a decrease in both equilibrium price and quantity.
• D)an increase in equilibrium price and a decrease in equilibrium quantity.

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Employee Table

A structured arrangement of data, often in rows and columns, specific to employees within a database.

Update Query

A type of database query used to modify the values of fields in existing records based on specific criteria.

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A data field that typically refers to the name of an individual's direct superior or manager within an organizational structure.