Multiple Choice
If most consumer goods and services are ________, then most income elasticities are ________.
A) normal; negative
B) inferior; positive
C) normal; greater than one
D) normal; positive
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q3: The owner of a pizza shop observes
Q4: Refer to the accompanying figure. What is
Q5: It takes many years to train to
Q6: Refer to the accompanying figure. If P
Q7: During recessions, when some workers lose their
Q9: Suppose you believe that plaid flannel shirts
Q10: If your income elasticity of demand for
Q11: Suppose a 10% increase in the price
Q12: Refer to the accompanying figure. If the
Q13: Suppose that a new drug has been