A Giffen Good

question 48

Multiple Choice

A Giffen good:

• A)is a theoretical impossibility.
• B)is an inferior good.
• C)is a normal good.
• D)is an essential good.

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Definitions:

Interoceptor

A sense organ within a body organ that transmits information regarding chemical composition, pH, osmotic pressure, or temperature.

Body Organ

A part of the body that performs a specific function or group of functions, such as the heart, liver, or lungs.

Rod

One of the rod-shaped, light-sensitive cells of the retina that are particularly sensitive to dim light and mediate black-and-white vision. Compare with cone.

Flavors

The overall perception of taste, aroma, and mouthfeel experienced when consuming a food or beverage.