Which of the Following Would Increase the Amount of an Inferior

question 48

Multiple Choice

Which of the following would increase the amount of an inferior good that buyers would like to purchase?

• A) an increase in buyers' incomes
• B) an increase in the price of a complement
• C) a decrease in the price of a substitute
• D) a decrease in buyers' incomes
• E) a decrease in its expected future price

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Definitions:

Legal Custody

Involves the rights and responsibilities of a parent or guardian to make major decisions concerning the child's welfare, including education, healthcare, and religious training.

Blended Families

Families consisting of a couple and their children from this and all previous relationships.

Role Model/Mentor

A role model or mentor is a person whose behavior, example, or success is or can be emulated by others, especially by younger individuals.

Nuclear Families

A domestic arrangement where both parents and their kids cohabit as a singular family unit.