If the demand for a good decreases because consumer income increases, the good is a(n):
A. inferior good.
B. normal good.
C. necessity good.
D. luxury good.
Answer: A
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If there are steady decreases in aggregate supply, the economy will experience
A) a slow decrease in price levels. B) demand-side inflation. C) an expansionary gap. D) supply-side inflation.
Prosperity in the United States is evenly distributed across the 50 states.
Answer the following statement true (T) or false (F)
Which of the following examples shows a surplus?
a. At $15,000 per automobile, a company produces 1,000 automobiles and has a demand for 3 more. b. At $15,000 per automobile, a company produces 1,000 automobiles and has a demand for 400 more. c. At $15,000 per automobile, a company produces 1,000 automobiles and sells 1,000. d. At $15,000 per automobile, a company produces 1,000 automobiles and sells 700.
Securities is a term that refers to ______.
a. bonds and stocks b. land and buildings c. coins and currency d. insurance and wages