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AP® Macroeconomics

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Law of Demand

APMACR-1HYLEA

Assume shoes are a normal good. According to the Law of Demand, when all else is equal

A

if incomes decreases, then the quantity of shoes demanded will decrease.

B

if the price of shoes increases, then the demand for shoes will increase.

C

if the demand for shoes increases, then the price will decrease.

D

if the price of shoes decreases, the quantity of shoes demanded will decrease.

E

if the price of shoes increases, then the quantity of shoes demanded will decrease.