[Answered] If the demand of a good is inversely related to income, it must be A) a bad good. B) an inferior ...

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 58 times)

Chelseaamend

Hero Member
Posts: 545

on: Jun 29, 2018

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.

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

Reply #1 on: Jun 29, 2018

Answer to Question 1

B

Answer to Question 2

C

Chelseaamend

Hero Member
Posts: 545

Reply #2 on: Jun 29, 2018

Thank you

skipfourms123

Sr. Member
Posts: 343

Reply #3 on: Jun 29, 2018

No problemo

« previous next »

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

The family tree of HIV and related viruses

skull sagittal and inferior

Good body mechanics when facing the head or foot of the table. A. Head and back in alignment. B. ...

Good body mechanics when facing the table directly. A. Head and back in alignment. B. Legs and feet ...

Income per Capita versus Income of the Bottom Quintile

Income per Capita versus Total Fertility Rate

Author Question: If the demand of a good is inversely related to income, it must be A) a bad good. B) an inferior ... (Read 58 times)

Related Topics

Need homework help now?