Multiple Choice
Use the information below to answer the following questions.
Fact 9.3.2 Boom Time for "Gently Used" Clothes
Most retailers are blaming the economy for their poor sales, but one store chain that sells used name-brand children's clothes, toys, and furniture is boldly declaring that an economic downturn can actually be a boon for its business. Last year, the company took in $20 million in sales, up 5% from the previous year. Sales are already up 5% this year.
Source: CNN, April 17, 2008
-Refer to Fact 9.3.2. According to the news clip, used clothing is ________ good. If the price of used clothing falls and income remains the same, the quantity of used clothing bought ________.
A) an inferior; decreases
B) an inferior; increases
C) a normal; increases
D) a normal; decreases
E) a substitute; decreases
Correct Answer:

Verified
Correct Answer:
Verified
Q17: The price of a good increases relative
Q26: Which one of the following is true
Q74: Which of the following is not relevant
Q83: Moving down along a given budget line,real
Q84: Use the information below to answer the
Q110: A preference map is<br>A)a series of points
Q112: Larry consumes only beer (B)and chips (C).
Q115: Martha consumes cake and muffins.Suppose Martha's income
Q117: Larry consumes only beer (B)and chips (C).
Q119: Use the figure below to answer the