Which of the following goods would most probably be an inferior good?
A. French wines
B. Generic beer
C. Theater tickets
D. Steak
Answer: B
You might also like to view...
Explain how it would be possible for the equilibrium price and equilibrium quantity to both increase in the market for motorcycles if consumer preference for motorcycles increases and the number of motorcycle manufacturers decreases
What will be an ideal response?
Which of the following is not a component of M1?
A. Currency B. Passbook savings account C. Checking accounts D. Traveler's checks issued by non-banks
Refer to the information provided in Figure 3.7 below to answer the following question(s).
?Figure 3.7Refer to Figure 3.7. Assume the market is initially at Point B and that pizza is a normal good. An increase in income would cause the market to move from Point B on demand curve D2 to
A. Point C on demand curve D2. B. demand curve D3. C. Point A on demand curve D2. D. demand curve D1.
If Mexicans increasingly lose confidence in their domestic financial markets and move their assets to other countries, the peso will depreciate
Indicate whether the statement is true or false