For an Inferior Good,a Rise in Price Causes

question 45

Multiple Choice

For an inferior good,a rise in price causes

• A)negative income and substitution effects
• B)positive income and substitution effects
• C)a negative income effect and a positive substitution effect
• D)a positive income effect and a negative substitution effect
• E)a positive income effect,but no substitution effect

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Definitions:

George Washington

The first President of the United States, serving from 1789 to 1797, and a key leader during the American Revolutionary War.

Continental Army

The army raised by the Second Continental Congress in 1775 to fight the British during the American Revolutionary War, commanded by General George Washington.

Olive Branch Petition

A final attempt by the American colonials to avoid a full-on war with Britain by asserting their loyalty while appealing for their grievances to be addressed.

King George Iii

The King of Great Britain and King of Ireland from 1760 to 1820, whose reign included the American Revolutionary War and the loss of the American colonies.