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iogann1982 [59]
4 years ago
8

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:

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3 years ago
ASAP I need help.
san4es73 [151]
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Help with number 6 question please
Arturiano [62]
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4 years ago
Consider a specific example of the special-interest effect. In 2012, it was estimated that the total value of all corn-productio
Molodets [167]

Answer:

A) $10 per person

B) $15000000

C) $30000000

D) $15000000

Explanation:

A) Cost of corn subsidies per person in the United States in 2012 = 3 billion/300 million = 3000000000/300000000 = $10 per person

B) We are told that 10 percent of 300 million population are those willing to provide funding. Thus;

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total funding raised for their lobbying efforts = $15000000

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Amount raise to support lobbying efforts to continue the corn subsidy =

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D). the difference between which the amount raised by the recipients of the corn subsidy exceeds that of the amount raised by the opponents of the corn subsidy = $30000000 - $15000000 = $15000000

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3 years ago
The gravity of earth is about six times the gravity of the moon for this reason
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I wish i could walk on the moon :D
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