If an Increase in Income Results in a Decrease in the Quantity

question 30

Multiple Choice

If an increase in income results in a decrease in the quantity demanded of a good,what is the good called

• A)an inferior good
• B)a necessity
• C)a normal good
• D)a luxury

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Definitions:

Equivalent Ratio

A proportion between two sets of quantities indicating their equality in value or function.

Smallest Term

In mathematics, it refers to the term in an expression, sequence, or series that has the smallest value.

Equivalent Ratio

A proportional relationship between two numbers or quantities, indicating how many times the first number contains the second.

Smallest Term

Smallest Term generally refers to the term in a mathematical expression or sequence with the smallest numerical value.