menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Principles of Macroeconomics
  4. Exam
    Exam 4: The Market Forces of Supply and Demand
  5. Question
    If the Demand for a Good Falls When Income Falls
Solved

If the Demand for a Good Falls When Income Falls

Question 191

Question 191

True/False

If the demand for a good falls when income falls, the good is called an inferior good.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q68: The law of supply states that, other

Q186: Figure 4-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt="Figure 4-7

Q187: If goods A and B are complements,

Q189: If the price of a substitute to

Q190: Who or what allocates an economy's scarce

Q192: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt=" -Refer to the

Q193: What is an example of a perfectly

Q194: What is an example of substitute goods?<br>A)

Q195: Other things equal, what happens when the

Q196: If a study by the CMA found

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines