What Type of Lie Is Considered Harmless, Beneficial to Those

question 7

Multiple Choice

What type of lie is considered harmless, beneficial to those around us, and contributes to the greater good?

• A) Perjury
• B) incorrect swearing
• C) White lie
• D) incorrect allegation

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Definitions:

Inferior Good

A type of good for which demand declines as the income of individuals or the economy increases, opposite to normal goods.

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute a cheaper good for a more expensive one.

Income Effect

The alteration in a person's or an economy's earnings and the effect this alteration has on the demand for a product or service.

Price Change

An alteration in the cost of goods or services, which can go up or down, depending on various factors.