Good X Is a Giffen Good

question 119

Multiple Choice

Good X is a Giffen good. When the price of X increases, the consumer will consume

• A)more X.
• B)the same amount of X.
• C)less X.
• D)more or less X depending on the size of the income effect relative to the size of the substitution effect.

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Definitions:

Sense of Humor

An individual's ability to perceive, enjoy, or express what is funny, amusing, or ludicrous.

Neuroticism

A personality trait characterized by the tendency to experience negative emotions such as anxiety, anger, or depression.

Extraversion

A personality trait characterized by sociability, talkativeness, assertiveness, and high levels of emotional expressiveness.

Neuroticism

A personality trait characterized by emotional instability, anxiety, moodiness, worry, and sadness.