Suppose Spam is an inferior good. If the U.S. economy is growing strong, and demanders' incomes were to rise, which of the following would tend to occur?
A) Spam sales would increase.
B) Spam demand would decrease.
C) The price of Spam would increase.
D) Both A and C above.
E) Both B and C above.
B
Economics
You might also like to view...
Someone who has just inherited a "goldmine" has received a great deal of ________
A) wealth B) money C) income D) currency E) liquidity
Economics
Historically, real income per person:
A. barely changed at all until the 1800s but began to increase after. B. has steadily increased at an average rate of 2 percent C. has barely changed at all worldwide. D. barely changed at all until the 1500s but began to increase after.
Economics