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a good is classified as inferior if
a. consumers buy less when the price rises
b. consumers buy less when the income rises
c. consumers buy less when the price falls
d. consumers buy more when the price rises
e. better quality goods exist.
I''m trying to figure out what the effect would be on LM or IS curve, and additionally the interest rate and income if (a) the transactional demand for money increases, (b) the liq
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why is imports subtracted from the expenditure approach
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