An inferior good is one for which an increase in income causes a(n)

a. increase in supply
b. decrease in supply
c. increase in demand
d. decrease in demand


d. decrease in demand

Economics

You might also like to view...

Use the following table to answer the question below.Units ConsumedTotal UtilityMarginal Utility00-1W20235X3Y10440ZThe value for Y is

A. 30. B. 25. C. 45. D. 40.

Economics

If the expansionary effect of additional government expenditure ________ the contractionary effect of the fall in private investment, the labor demand curve ________

A) equals; will remain at its initial position B) exceeds; will shift to the left C) equals; will shift to the right D) exceeds; will remain unchanged

Economics

The above figure shows the U.S. market for wheat. When there no international trade, the U.S. price of wheat is ________ per ton and the U.S. equilibrium quantity is ________ tons

A) $14; 300,000 B) $14; 500,000 C) $16; 500,000 D) $16; 300,000 E) $16; 700,000

Economics

Most of the disagreement among economists involves normative debates

a. True b. False

Economics