Multiple Choice
If Joe's income increased and as a result he purchased more wine and less fast food,
A) wine is a normal good and fast food an inferior good for Joe.
B) wine is an inferior good and fast food a normal good for Joe.
C) both wine and fast food are inferior goods for Joe.
D) both wine and fast food are normal goods for Joe.
Correct Answer:
Verified
Correct Answer:
Verified
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