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Author Question: An indication that the economy is in recession, e.g., a rise in the number of used clothing stores ... (Read 59 times)

craiczarry

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on: Jul 1, 2018
An indication that the economy is in recession, e.g., a rise in the number of used clothing stores for babies, suggests that
 a. used clothes for babies are a necessity
  b. used clothes for babies are an inferior good
  c. used clothes for babies are a normal good
  d. new clothes for babies are a luxury
  e. used clothes for babies have price-elastic demand

Question 2

An inferior good is
 a. any good of low quality
  b. one that consumers buy less of as the price rises
  c. one that consumers buy less of as their income rises
  d. one that has few substitutes
  e. any good made with inexpensive labor


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Ksanderson1296

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

C


craiczarry

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  • Posts: 527
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

matt95

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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