If the Demand for a Good Falls When Income Falls,then

question 95

Multiple Choice

If the demand for a good falls when income falls,then the good is called

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

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Definitions:

Extenuating Circumstance

A situation or condition that lessens the severity or culpability of an action, often considered during judgement or evaluation.

Right from Wrong

The ability to discern ethically or legally correct actions from those that are not.

American Psychological Association

A professional organization representing psychologists in the United States, focusing on the advancement of psychological science.

Code of Ethics

A set of principles and rules designed to guide the behavior and decision-making of professionals within a specific field or organization.