Which of the Following Statements Best Describes an Inferior Good

question 126

Multiple Choice

Which of the following statements best describes an inferior good?

• A) An inferior good is a good whose quantity supplied always exceeds its quantity demanded.
• B) An inferior good is a good whose demand decreases with an increase in consumers' income.
• C) An inferior good is a good that is sold at a subsidized price.
• D) An inferior good is a good that is rationed by the government.

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Definitions:

Reinforcement Schedules

Involves the structured application of rewards or punishments to modulate behavior within a learning process, emphasizing the timing and frequency.

Rates of Response

The speed or frequency with which an organism responds to a stimuli in behavioral psychology, or the reply frequency in survey research.

Instrumental Conditioning

A method of modifying the intensity of a behavior through the use of either rewards or penalties.

Reinforcement Schedule

A strategy in behavioral psychology that determines how and when a response will be rewarded to encourage certain behavior.