This topic contains a solution. Click here to go to the answer

Author Question: If the demand of a good is inversely related to income, it must be A) a bad good. B) an inferior ... (Read 62 times)

Chelseaamend

  • Hero Member
  • *****
  • Posts: 545
If the demand of a good is inversely related to income, it must be
 
  A) a bad good.
  B) an inferior good.
  C) a normal good.
  D) an everyday product.

Question 2

The assumption that individuals do NOT intentionally make decisions that would leave them worse off is referred to as
 
  A) the premium assumption.
  B) the law of comparative advantage.
  C) the rationality assumption.
  D) the law of demand.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

skipfourms123

  • Sr. Member
  • ****
  • Posts: 343
Answer to Question 1

B

Answer to Question 2

C





 

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

For a complete list of videos, visit our video library