In economic terminology, an inferior good is a good
A. for which demand increases as income decreases.
B. that has no monetary value.
C. that no one will purchase.
D. that doesn't work properly.
Answer: A
You might also like to view...
An increase in ________ decreases the quantity of money people want to hold
A) the price level B) real GDP C) the interest rate D) the quantity of money
The indifference curves for perfect substitutes are straight lines
a. True b. False Indicate whether the statement is true or false
To qualify as incentive pay, a performance-based compensation program:
A. must use monetary rewards. B. may use either monetary or non-monetary rewards. C. must use only non-monetary rewards. D. may only use piece rates and commissions.
If price were $190, there would be a _____ (shortage or surplus) of _____.