If a product is an inferior good ?

Related Mcqs:

A contraction in supply occurs when ?

A. Demand shifts outwards B. The supply curve shifts inwards C. The quantity supplied falls when the price falls D. The supply curve shifts outwards...

The income effect of a price increase of a normal good is to ________ of that good and the substitution effect is to _________ of that good?

A. increase quantity demanded, reduce quantity demanded B. increase quantity demanded, increases quantity demanded C. reduce quantity demanded, reduce quantity demanded D. reduce quantity demanded, increase quantity demanded...

Adding up the quantities demanded of a good by different people facing the same price gives us the ?

A. Supply curve B. Market demand curve C. Demand curve D. Market supply curve...

If the cross-price elasticity of demand between two goods is negative, then the two goods are ?

A. normal goods B. unrelated goods C. Substitutes. D. Complements...

Improved training of employees would ?

A. Shift aggregate supply to the right B. Shift aggregate supply to the left C. Shift aggregate demand to the right D. shift aggregate demand to the left...