If a Good Is Inferior, Then an Increase in Income

question 40

Multiple Choice

If a good is inferior, then an increase in income will cause the demand curve to

• A)Shift right
• B)Shift left
• C)Stay the same
• D)Rotate inward

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Definitions:

Confidence Level

The percentage or degree of confidence that a parameter lies within a specified range, usually associated with confidence intervals in statistics.

Sample Size

The number of observations or replicates to include in a statistical sample.

Population Standard Deviation

A measure of the dispersion or variability of a set of data points in a population, denoting how spread out the data points are from the mean of the population.

Sample Size

The number of observations or units collected in a study or used in statistical analysis.