If the Demand for Beans Tends to Decline as Incomes

question 73

Multiple Choice

If the demand for beans tends to decline as incomes rise,everything else held constant,beans are _____.

• A)a luxury good
• B)a normal good
• C)price sensitive
• D)not price sensitive
• E)an inferior good

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Definitions:

Vietnam War

A prolonged conflict (1955-1975) between Communist forces in North Vietnam and non-Communist forces in South Vietnam, with heavy involvement and support from the United States to the South Vietnamese government.

United States

A country in North America founded in 1776, known for its diverse population and as a leading global economic and military power.

Lose

To be unsuccessful in retaining possession or winning; the opposite of winning or finding.

Vietnam War

A prolonged conflict (1955-1975) between Communist forces in North Vietnam and the Republic of Vietnam in the South, along with its principal ally, the United States.