If Max's demand for hot dogs falls as his income rises, then for Max hot dogs are
A) a bad good.
B) an inferior good.
C) a preferential good.
D) a normal good.
E) a neutral good.
B
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Which of the following leads to a recession?
A) An accumulation of money in the economy B) An accumulation of mistakes in the economy C) An accumulation of non-renewable resources in the economy D) An accumulation of irrational decisions among businesses and households
Which of the following would be an asset to a bank?
a. cash in the vault b. a loan to a university student c. a government security d. All of the above are correct.
In a perfectly competitive industry, an individual firm faces
A. a perfectly elastic labor supply curve. B. a perfectly inelastic labor supply curve. C. a perfectly vertical labor supply curve. D. none of these.
In an attempt to raise sales, Hannah cut prices in her bookstore by 20 percent. If the dollar value of her sales remained constant, that indicates
A. old customers bought no more books. B. no new customers bought books. C. the quantity of books sold increased 20 percent. D. the demand curve is vertical.