Which of the Following Statements Is FALSE

question 364

Multiple Choice

Which of the following statements is FALSE?

• A) A Giffen good must be an inferior good.
• B) A Giffen good must be such that the income effect and the substitution effect move in opposite directions, and the income effect outweighs the substitution effect.
• C) A Giffen good must be such that the substitution effect outweighs the income effect for an inferior good.
• D) A Giffen good must have an upward-sloping demand curve.

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Definitions:

Evolutionary Change

The process through which genetic variations accumulate over generations, leading to changes in the traits and behaviors of organisms.

Hereditarily

Hereditarily pertains to the genetic transmission of traits, diseases, or characteristics from parents to offspring.

Artificial Selection

The process by which humans breed plants and animals for particular genetic characteristics.

Selective Breeding

The process of breeding plants or animals for specific genetic traits, aiming to enhance or perpetuate desirable characteristics.