Something Is an Inferior Good If the Demand for the Good

question 76

Multiple Choice

Something is an inferior good if the demand for the good

• A) increases as the consumer's income increases.
• B) increases as the consumer's income decreases.
• C) decreases as the price of a complement increases.
• D) decreases as the price of a substitute increases.
• E) decreases as the consumer's income decreases.

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Definitions:

Somatoform Disorders

A group of psychological disorders in which a person experiences bodily symptoms that are inconsistent with or cannot be fully explained by any underlying medical or neurological condition.

Dissociative Disorders

A group of mental disorders characterized by a disconnection and lack of continuity between thoughts, memories, surroundings, actions, and identity.

Major Depressive Disorder

A mental health disorder characterized by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in activities.

Bipolar Disorder

A mental disorder characterized by episodes of mood swings ranging from depressive lows to manic highs.