An inferior good or service is any good or service for which:
a. an increase in price causes an increase in the quantity demanded.
b. a decrease in price causes an increase in demand.
c. an increase in price causes a decrease in the quantity demanded.
d. an increase in the amount consumed causes a decrease in marginal utility.
e. an increase in income causes a decrease in demand.
e
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A demand-pull inflation initially is characterized by
A) increasing real output and a labor surplus. B) no change in real output and a labor shortage. C) decreasing real output and a labor surplus. D) decreasing real output and a labor shortage. E) increasing real output and a labor shortage.
Which statement is true?
A. Most blacks live in poor neighborhoods. B. Young black women are confronting a shrinking pool of "marriageable" (that is economically stable) men. C. It is clear that the basic cause of poverty in this country is public assistance. D. The United States has the smallest proportion of people living in poverty in the world.