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4 years ago

If a decrease in income increases the demand for a good. True or False

Business

1 answer:

Masja [62]4 years ago

3 0

Answer:

If a decrease in income increase the demand for a good , the good is an inferior good.

An inferior good is a good whose demand falls when income rises and rises when income falls.

Inferior goods have an indirect relationship with income

A normal good is a good whose demand rises when income increases and falls when income falls.

Normal goods have a direct relationship with income.

A substitute good is a good that can be used in place of another good. For example if good A and B are substitutes, if the price of good A increases, it would become more expensive for consumers and consumers would shift to consuming good B. As a result the demand for good B would rise and the quantity demanded of good A would fall.

Complements are goods that are used together. If the price of one of the goods increases, the demand for the other good falls and vice versa.

For example, gasoline and car are complements. If the price of cars fall, people would increase their demand for cars and as result the demand for gasoline would increase.

I hope my answer helps you

Explanation:

Read more about equilibrium wage

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3 0

2 years ago

What is the name given to a group of individuals working together to achieve shared job-related goals such as higher pay, shorte

Julli [10]

Answer:

Labor union

Explanation:

The labor union is the individual group that works together to accomplish the company goals or the shared job goals in terms of high pay, less working hours, high benefits, better working conditions

So the given situation represent the labor union

Hence, the same is to be considered and relevent too

5 0

3 years ago

This graph shows that there was an increase in the unemployment rate in the U.S. in the years between 1990 and 1993. This increa

OverLord2011 [107]

Answer:

Option A (an economic recession in the U.S) would be the correct choice.

Explanation:

A recession seems to be an economic and financial term of knowledge and skills to a substantial reduction in the total financial outlook of the specified location.
Usually, as expressed by GDP throughout combination with monthly metrics such as an uptick in unemployment, this one has been recognized as two successive quarters of economic downturn.

Some other three options aren't connected to the example described. But the response above is the right one.

3 0

3 years ago

A property was purchased two years ago for $300,000; the investor just sold the property for $379,000. What was the percentage o

ikadub [295]

Answer:

percentage of profit is 26.3%

Explanation:

given data

purchase property cost = $300,000

time = 2 year ago

sold property = $379,000

solution

we get here percentage of profit in relation to the cost

first we get here percentage value increase that is

percentage value increase = $\frac{379000}{300000}$

percentage value increase = 1.263

percentage value increase = 126.3%

so here 1 in 1.263 represent you the original cost

so profit % = 1 - 1.263

profit % = 26.3%

3 0

3 years ago

The relationship between job satisfaction and organizational financial performance is ______ the relationship between job satisf

Gala2k [10]

Weaker than

Hope this helps (:

4 0

3 years ago