An inferior good is one for which
A) demand increases as income increases.
B) demand decreases as income increases.
C) the demand curve is vertical.
D) the demand curve slopes up.
B
Economics
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When a football manufacturer prices its footballs at $120 each, it has 10 footballs in stock at any given time. However, when the footballs are priced at $144 each, the manufacturer is left with 16 footballs in stock at any given time. What is the price elasticity of supply of the football?
a. 2.54 b. 0.39 c. 2.43 d. 0.45
Economics
Reserves are
a. the central bank of the U.S. b. deposits that banks hold in excess of the required amount. c. the purchase of bonds by the Federal Open Market Committee. d. deposits that banks have received but have not yet loaned out.
Economics