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Economics
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If a decrease in income increases the demand for a good, then the good is ____________.

a. a substitute good

b. a complement good

c. a normal good

d. an inferior good

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Sonia Dhawan
Sonia DhawanLv10
2 Sep 2020
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Related questions

When consumer income increases, the demand for Good X decreases. Good X must be:

a. An inferior good

b. A normal good

c. A complement good

d. A substitute good

Suppose the demand for X is given by QXd = 50 - 4PX - 3PY - 5M + 3A, where PX represents the price of good X, PY is the price of good Y, M is income and A is the amount of advertising on good X. Based on this information, we know that good X is a

A. Substitute for good Y and a normal good

B. Complement for good Y and an inferior good

C. Complement for good Y and a normal good

D. Substitute for good Y and an inferior good

Which of the following would cause the demand curve to shift to the right?

a. The price of a substitute decreases.

b. The price of a complement increases.

c. Income decreases for an inferior good.

d. Tastes and preferences decrease.

e. Income decreases for a normal good.

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