Author Question: A good that is similar to another, and can be consumed in place of it, is called A) a normal ... (Read 95 times)

jwb375 · **on:** Jul 1, 2018

A good that is similar to another, and can be consumed in place of it, is called

A) a normal good.
B) an inferior good.
C) a complementary good.
D) a substitute good.

Question 2

If the redistributive character of the tax system is measured by looking at the additional taxes paid by high-income individuals and reduction in taxes to low-income individuals, the dollar amount of redistribution will be _____.

a. overestimated
b. underestimated
c. estimated correctly
d. estimated improperly, possibly over or under