Multiple Choice
The difference between normal and inferior goods is that
A) normal goods are of better quality than inferior goods
B) an increase in price will shift the demand curve for a normal good rightward and the demand curve for an inferior good leftward
C) if the price of a normal good increases, individuals who buy it are poorer; for inferior goods, the opposite is true
D) an inferior good is something that will not be demanded until quantities of the normal good have been exhausted
E) an increase in income will shift the demand curve for a normal good rightward and the demand curve for an inferior good leftward
Correct Answer:

Verified
Correct Answer:
Verified
Q96: Larger quantities of any good will be
Q97: Which of the following will increase the
Q98: Exhibit 4-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 4-7
Q99: If a surplus exists in the market
Q100: Which of the following causes the supply
Q102: Exhibit 4-15 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 4-15
Q103: A surplus of shoes will cause<br>A)a decrease
Q105: If the price of a haircut (a
Q106: Suppliers recognize there is a shortage in
Q164: Suppose there are only two goods, apples