If, as People's Incomes Increase, the Demand for a Good

question 271

Multiple Choice

If, as people's incomes increase, the demand for a good increases, the good is called

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

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Definitions:

Government Financial Support

Monetary assistance provided by the government to individuals, organizations, or businesses, often aimed at economic stabilization or promoting specific policies.

Grant Application

A formal request for financial support from a private or public funding agency.

Charitable Subsector

A division within the nonprofit sector that focuses specifically on organizations whose primary purpose is charitable work.

Government Financial Support

Monetary assistance provided by governmental bodies to organizations, individuals, or sectors, often aimed at stabilization, growth, or specific goals.