If the demand for beans tends to decline as incomes rise, ...

[KimWrice]

If the demand for beans tends to decline as incomes rise, everything else held constant, beans are _____.
 a. luxury goods
  b. normal goods
  c. price sensitive
  d. not price sensitive
  e. inferior goods

Question 2

Farmers who work for themselves with their own equipment on their own land could earn accounting profits and economic losses at the same time.
 a. True
  b. False
  Indicate whether the statement is true or false

[kaylee05]

Answer to Question 1

e

Answer to Question 2

True

[KimWrice]

Excellent

[sailorcrescent]

TYSM