An Inferior Good Is One for Which an Increase in Income

question 48

Multiple Choice

An inferior good is one for which an increase in income causes a(n)

• A) decrease in supply.
• B) increase in demand.
• C) increase in supply.
• D) decrease in demand.

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Definitions:

Goalie

A player in sports, particularly in hockey or soccer, responsible for protecting the goal from being scored by the opposing team.

Shutout

In finance, it typically means being prevented from participating in an opportunity, often due to timing or fulfillment conditions not being met.

Monthly Base Salary

The fixed amount of money paid to an employee every month, excluding bonuses, benefits, or overtime.

Commission Rate

The percentage or fixed payment associated with a transaction, often used in sales to determine the amount paid to the salesperson or agent.