This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the demand of a good is inversely related to income, it must be A) a bad good. B) an inferior ... (Read 121 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.


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
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?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

An analogy for how cardiac output, resistance, and blood pressure are related. An analogy for how cardiac output, resistance, and blood pressure are related.
Procedures and Diagnostic Tests Related to the Cardiovascular System Procedures and Diagnostic Tests Related to the Cardiovascular System
Procedures and Diagnostic Tests Related to the Cardiovascular System Procedures and Diagnostic Tests Related to the Cardiovascular System
A typical electric cooling fan assembly showing the radiator and related components. A typical electric cooling fan assembly showing the radiator and related components.
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
Most Canadian seniors rated their health as good to excellent. Most Canadian seniors rated their health as good to excellent.
Video: Plant Defense Mechanisms from Pathogens

For a complete list of videos, visit our video library