One economy produces hot dogs and hamburgers. Now, the discovery of significant health-promoting effects in hot dogs has changed consumer preferences. This change is,

a. move the economy inside the production possibility frontier.

b. The economy moves along the production possibility frontier.

c. Expand the production possibility frontier.

d. Shrink the production possibility frontier.

What would happen in the market for inferior goods if the economy were to fall into a recession and incomes were to decline?

a. Prices will decrease and trading volume will decrease. b. Prices will decrease and trading volume will decrease. c. Prices will decrease and trading volume will increase.

b. Prices will decrease and trading volume will increase. c. Prices will decrease and trading volume will increase. d. Prices will decrease and trading volume will increase.

c. Prices will increase and trading volume will decrease. d. Prices will increase and trading volume will decrease. e. Prices will increase and trading volume will decrease,

d. Prices will rise and trading volume will increase,