If a consumer purchases more of good X and good Y after her income increases, then neither good X nor good Y is an inferior good for her

a. True
b. False
Indicate whether the statement is true or false

True

Economics

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Would a shift in demand have a greater effect on the percentage change in equilibrium quantity for a straight-line supply curve that intersects the quantity axis or the price axis?

A. Price axis because supply will be more elastic. B. Quantity axis because supply will be less elastic. C. Quantity axis because supply will be more elastic. D. Price axis because supply will be less elastic. References

Economics

According to which of the following models are economic agents assumed to have perfect information?

a. The new classical model b. The classical model c. The monetarist model d. The Keynesian model

Economics