Question 22

For a bicycle company, an economist predicted that, other things being equal, a rise in consumer incomes will increase the demand for bicycles. This prediction is based on the assumption that:

  • A.there are many goods that are substitutes for bicycles.
  • B.there are many goods that are complementary to bicycles
  • C.there are few goods that are substitutes for bicycles
  • D.bicycles are normal goods.
Objective

Question details

Exam body
OAU
Subject
Economics
Year
2011/2012
Question no.
#22
Type
Objective

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