Use the Following to Answer Questions 5-6

question 63

Multiple Choice

Use the following to answer questions 5-6:
Figure 5.3
-(Figure 5.3) Which of the following statements is TRUE?

• A) Books are an inferior good at income levels greater than those associated with bundle B.
• B) Books are an inferior good at income levels greater than those associated with bundle C.
• C) Both books and paintings are normal goods up to the income level corresponding to bundle D.
• D) Paintings are an inferior good at income levels higher than those associated with these bundles.

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Definitions:

Defense Industries

Industries involved in the production of weapons, military technology, and equipment for national defense.

Labor Unions

Organizations formed by workers from related fields that work for the common interest of its members in terms of pay, working hours, working conditions, and other employment rights.

National Urban League

An American civil rights organization that advocates on behalf of African Americans and against racial discrimination in the United States.

Economic Opportunities

The availability of jobs, business ventures, and other activities that can lead to economic improvement and personal financial growth.