If a Decrease in Income Leads to an Increase in the Demand

question 79

Multiple Choice

If a decrease in income leads to an increase in the demand for macaroni,then macaroni is

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

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Definitions:

Middle Term

The term that appears in both premises of a standard syllogism but not in the conclusion, acting as a link in deductive reasoning.

Major Premise

The first proposition in a syllogism, from which a conclusion is drawn, typically a general statement.

Minor Premise

The second proposition in a syllogism, from which along with the major premise the conclusion is derived.

Categorical Syllogism

A logical argument that derives a conclusion from two statements, asserting or denying something about a category.