Assuming that generic brands are inferior goods, an increase in consumer income, other things being equal, will cause a(n):
a. leftward shift in the demand curve for generic goods.
b. downward movement along the demand curve for generic goods.
c. rightward shift in the demand curve for generic goods.
d. upward movement along the demand curve for generic goods.
Question 2
If good X is an inferior good, a decrease in consumer income, other things being equal, will shift the:
a. demand curve for good X to the right. b. demand curve for good X to the left.
c. supply curve for good X to the right. d. supply curve for good X to the left.
The Head Start program was designed to increase the school readiness of low-income children.
A variety of sugar substitutes is available to the consumer
Income Distribution in the United States, 2009
The Parade of World Income
Draw an Edgeworth box for two consumers over two goods
Construct a Lorenz curve that shows income distribution in this society.