Normal goods are those for which demand decreases as

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Normal goods are those for which demand decreases as A) the price of a complement falls. B) the price of a substitute falls. C) income decreases. D) the good’s own price rises. Answer: C
A normal good is a good for which
Most goods
A normal good is a good for which demand
A) the price of a substitute falls. B) the price of a substitute rises. C) income decreases. D) income increases. Answer: C By definition, an inferior good is a A) want that is not expressed by demand. B) normal substitute good. C) good for which demand decreases when its price rises. D) good for which demand decreases when income increases. Answer: D
If a good is an inferior good, then purchases of that good will decrease when
An inferior good is a good for which demand
Gruel is an inferior good. Hence, a decrease in people’s incomes
When economists speak of preferences as influencing demand, they are referring to A) directly observable changes in prices and income.
B) an individual’s attitudes toward goods and services. C) the excess of wants over the available supplies. D) the availability of a good to all income classes. Answer: B An unusually warm winter
In 2000 there were 200,000 gas grills demanded at a price of $500. In 2001 there were more than 200,000 gas grills demanded at the same price. This increase could be the result any of the following EXCEPT

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