Author Question: Compared to higher-income families, low-income families would demand proportionately more of which ... (Read 110 times)

tatyanajohnson · **on:** Jun 30, 2018

Compared to higher-income families, low-income families would demand proportionately more of which of the following kinds of goods?
a. Luxury goods.
b. Substitute goods.
c. Normal goods.
d. Inferior goods.

Question 2

If there is an increase in income, which of the following is true?
a. The demand for complementary goods decreases.
b. The demand for substitute goods decreases.
c. The demand for normal goods decreases.
d. The demand for normal goods increases.
e. The supply for all goods decreases.