A big chunk of the savings households up and down the income ladder built up when the pandemic started is still there...[Consumers]will also surely notice that the price of gasoline has fallen...since last Memorial Day...averaging$3.57agallon...comparedwith$4.60 a year ago."Holding everything else constant, if the quantity demanded for gasoline increases due to a decrease in the price of gasoline from$4.60to$3.57pergallon,does this mean gasoline is a normal good?

Answer rating: 100% (QA)

Yes based on the information provided gasoline can ... View the full answer