Which of the following is not a valid relationship?
a. For a normal good: demand for a good increases when income falls.
b. For a normal good: demand for a good decreases when income falls.
c. For an inferior good: demand for a good decreases when income rises.
d. For an inferior good: demand for a good increases when income falls.
a
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Minimum-price laws designed to preserve competition
A) offer the certainty of lower prices in order to eliminate the possibility of higher prices. B) offer the certainty of higher prices in order to eliminate the possibility of higher prices. C) offer the possibility of higher prices in order to eliminate the certainty of higher prices. D) offer the sellers more competition among themselves.
Which of the following is true?
a. both b and c b. the U.S. capital account records international transactions involving purchases of investments c. the U.S. capital account records international transactions involving sales of investments d. U.S. capital refers to the export of real capital only e. U.S. capital outflows result when foreigners purchase U.S. assets