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A Good Is Inferior If Which of the Following Is

question 65

Essay

A good is inferior if which of the following is true?
A.When income increases, the demand remains unchanged.
B.When income increases, the demand decreases.
C.When income increases, the demand increases.
D.Income and the demand are unrelated.


Definitions:

Merit Pay

Merit pay is a compensation approach that rewards employees based on their performance as assessed through evaluations, aiming to encourage higher levels of output.

Developmental Reasons

Underlying causes or motives related to growth, progress, or change in an individual or organization.

Performance Appraisals

The evaluation process through which employee performance is assessed, typically on an annual or semi-annual basis.

Reliable

The quality of being consistently good in performance, accuracy, or durability, often used to describe products, services, or sources of information.

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