If a Good Is Considered to Be an Inferior Good

question 35

Multiple Choice

If a good is considered to be an inferior good, its income elasticity of demand is

• A)greater than 1.
• B)less than 0.
• C)equal to 0.
• D)between 0 and 1.
• E)equal to 1.

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Definitions:

Barbaric

Pertaining to or characteristic of a very cruel, brutal, and uncivilized behavior or practice.

Social Interaction

The method through which people interact and respond to one another, creating the foundation for social connections.

Microstructures

are the patterns of relatively intimate social relations formed during face-to-face interaction. Families, friendship circles, and work associations are examples of microstructures.

Cultural Hegemony

involves the control of a culture by dominant classes and other groups to the point where their values are universally accepted as common sense.