If Income Increases by 12% and the Quantity Demanded of a Good

question 358

Multiple Choice

If income increases by 12% and the quantity demanded of a good increases by 14%, the good is a(n) _____ good.

• A) inferior
• B) normal
• C) luxury
• D) complementary

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Definitions:

Tsunami

A series of large ocean waves generated by significant disturbances such as underwater earthquakes, volcanic eruptions, or landslides.

Seafloor

The bottom layer of the ocean, consisting of sediment, rock, and organic material, shaped by geological and biological processes.

Landslides

Gravitational forces causing the downward shift of earth materials, rocks, or debris along a slope.

Volcanic Eruptions

The release of magma, ash, and gases from a volcano, a geological process that can significantly alter the surrounding landscape.