A good whose demand is inversely related to income is a(n)

A. regular good.
B. inferior good.
C. new good.
D. normal good.

Answer: B

Economics

You might also like to view...

The larger the MPC, the smaller the value of the multiplier

Indicate whether the statement is true or false

Economics

For you to be considered not in the labor force, you can be

A. a full-time volunteer. B. a full-time retiree. C. a full-time student. D. any of the above.

Economics