When Joshua's Income Increases, He Purchases More Prime-Rib Dinners Than

question 466

Multiple Choice

When Joshua's income increases, he purchases more prime-rib dinners than he did before his income increased. For Joshua, prime-rib dinners are a(n)

• A)normal good.
• B)inferior good.
• C)optimal good.
• D)Giffen good.

---

Definitions:

Doctrine of Necessaries

Legal principle holding a spouse responsible for providing the necessary expenses of the family, like food, shelter, and medical care.

Disaffirm

The legal act of rejecting or voiding a contract or agreement, especially by a party who was not at full capacity when the agreement was made.

Property

Refers to legally recognized ownership of resources such as land, buildings, goods, or intellectual property.

Understand

The ability to grasp the meaning, significance, or nature of something.