Suppose You Only Consume Rice and Bananas

question 22

Multiple Choice

Suppose you only consume rice and bananas. Can both of these goods be Giffen goods in your consumption?

• A) Yes, this is possible
• B) No, at least one of the goods must be normal
• C) No, they both can be inferior, but at least one of the goods cannot be a Giffen good
• D) We need more information about the goods to answer this question

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Definitions:

Cultural Differences

The variations in the customs, values, beliefs, and practices that exist among people from different backgrounds and societies.

Gender Differences

Variations in characteristics, behaviors, and roles traditionally associated with being male or female in a specific culture or society.

Achievement Motives

The intrinsic or extrinsic motivations that drive individuals to pursue and attain their goals.

Affiliation Motives

Refer to the innate or learned desire to be associated with other people or groups, often driven by a need for social support, acceptance, and belonging.