If a Good Is Inferior,then an Increase in Income Will

question 79

Multiple Choice

If a good is inferior,then an increase in income will result in a(n)

• A)increase in the demand for the good.
• B)decrease in the demand for the good.
• C)movement down and to the right along the demand curve for the good.
• D)movement up and to the left along the demand curve for the good.

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Definitions:

Political Revolution

A fundamental and significant change in political power or organizational structures that takes place in a relatively short period of time.

Terrorism

The use of violence and intimidation, especially against civilians, in the pursuit of political aims.

Economic Development

The process by which the economic well-being and quality of life of a nation, region, or local community are improved according to targeted goals and objectives.

Democratic Government

A system of governance where power is vested in the people, who have the authority to elect representatives and make decisions through a majority vote.