A decrease in the demand for a good due to a decrease in consumer income leads to: a. movement along the demand curve and a lower equilibrium price. b. movement along the demand curve and a higher equilibrium price. c. a leftward shift of the demand curve and a lower equilibrium price. d. a rightward shift of the demand curve and a higher equilibrium price.
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An increase in consumer income, other things being equal, will a. shift the supply curve for a normal good to the right. b. cause an upward movement along the demand curve for an inferior good. c. shift the demand curve for an inferior good to the left. d. cause a downward movement along the supply curve for a normal good.
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