Which Statement Is True for an Inferior Good

question 82

Multiple Choice

Which statement is true for an inferior good?

• A)The substitution effect is positive;as price rises,consumption increases.
• B)The income effect is absent;as income increases,consumption remains constant.
• C)The income effect works in the opposite direction to the substitution effect.
• D)The good is of poor workmanship.
• E)The income effect works in the same direction as the substitution effect.

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Definitions:

Anger-Related Words

Terms that are specifically associated with the emotion of anger or describe aspects of anger.

Heart Disease Rates

Refers to the prevalence or incidence of cardiovascular conditions within a specific population, often utilized as an indicator of public health.

Naturalistic Observation

An investigatory technique that involves monitoring individuals in their natural surroundings without the observer making any changes.

Descriptive Method

Research methods aimed at describing characteristics of a population or phenomenon, often through observation, surveys, or case studies.