If your income doubles and the prices of the goods you buy double then your demand for these goods will likely?

Related Mcqs:

Supply is likely to be more price elastic ?

A. In the short run rather than the long run B. If factors of production are relatively immobile between industries C. If there are very few producers D. If it is easy to expand output...

The income effect of a price increase of a normal good is to ________ of that good and the substitution effect is to _________ of that good?

A. increase quantity demanded, reduce quantity demanded B. increase quantity demanded, increases quantity demanded C. reduce quantity demanded, reduce quantity demanded D. reduce quantity demanded, increase quantity demanded...

The price of apples falls by 5% and quantity demanded increases by 6% This means that demand is ?

A. zero elastic B. elastic C. perfectly elastic D. inelastic...

If the cross-price elasticity of demand between two goods is negative, then the two goods are ?

A. normal goods B. unrelated goods C. Substitutes. D. Complements...

Aggregate demand will increase if ?

A. consumption falls B. investment falls C. Exports fall D. imports fall...