An Increase in a Person's Income Will Have What Effect

question 18

Multiple Choice

An increase in a person's income will have what effect on demand for 'inferior goods'

• A) An increase in quantity demanded
• B) An outward shift in demand
• C) An inward shift in demand
• D) A decrease in quantity demanded

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Definitions:

Proportion

A part or fraction of a whole, typically expressed as a percentage or ratio.

Anecdotal Evidence

Information based on personal accounts, stories, or experiences, rather than on scientifically collected data or statistics.

Observational Study

A study wherein researchers observe and record data without manipulating any variables, in contrast to an experimental study.

Matched Pairs

A study design in which subjects are paired based on specific characteristics, with one in each pair receiving treatment and the other not.