I would think either the Indians or cavemen
The income effect is the change in the demand of the goods and services as an result of the change of the The increased voluntary income of the consumer. Hense, the best option that describes the income effect is;The increased income earned by suppliers because of high prices. :)
Answer:
SELL, BUY, DOWN.
Explanation:
The answer to the fill in the blanks will be SELL, BUY, DOWN.
If the dollar price of oil is higher in any country then what arbitrageurs will do is he will sell oil in country which has a high dollar value.
And will buys oil from the country where the dollar value is less and this process will drive down the price of oil.
D because before you do a b and c you have to take the test
