When the demand for a good increases with an increase in income, such a good is called (1) Superior good (2) Giffin good (3) Inferior good (4) Normal good

When the demand for a good increases with an increase in income, such a good is called (1) Superior good (2) Giffin good (3) Inferior good (4) Normal good
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Superior good
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When the demand for a good increases with an increase in income, such a good is called - (1) Superior good (2) Giffin good (3) Inferior good (4) Normal good

Description : When the demand for a good increases with an increase in income, such a good is called - (1) Superior good (2) Giffin good (3) Inferior good (4) Normal good

Last Answer : (1) Superior good Explanation: A superior good is a product that people demand more of as they their incomes grow. These are products that are generally more expensive and rarer like diamonds and classic ... characteristics: it must be scarce, and, along with that, it must have a high price.

If a good has negative income elasticity and positive price elasticity of demand, it is a (1) giffen good (2) normal good (3) superior good (4) an inferior good

Description : If a good has negative income elasticity and positive price elasticity of demand, it is a (1) giffen good (2) normal good (3) superior good (4) an inferior good

Last Answer : (1) giffen good Explanation: A negative income elasticity of demand is associated with inferior goods. The Giffen good is an unusual type of inferior good which has positive price elasticity of demand. It ... rises, violating the law of demand. When price goes up, the quantity demanded also goes up.

If a good has negative income elasticity and positive price elasticity of demand, it is a (1) giffen good (2) normal good (3) superior good (4) an inferior good

Description : If a good has negative income elasticity and positive price elasticity of demand, it is a (1) giffen good (2) normal good (3) superior good (4) an inferior good

Last Answer : giffen good

On an indifference map, if the income consumption curve slopes downwards to the right it shows that A.Both X and Y are superior goods B.Y is an inferior good C.X is an inferior good D.Both X and Y are inferior goods

Description : On an indifference map, if the income consumption curve slopes downwards to the right it shows that A.Both X and Y are superior goods B.Y is an inferior good C.X is an inferior good D.Both X and Y are inferior goods

Last Answer : B.Y is an inferior good

If consumer’s income increases, the demand for normal product X (a) will remain unchanged (b)will necessarily increase © will necessarily decrease (d) may increase or decrease

Description : If consumer’s income increases, the demand for normal product X (a) will remain unchanged (b)will necessarily increase © will necessarily decrease (d) may increase or decrease

Last Answer : (b)will necessarily increase

For an inferior good, demand falls when - (1) price rises (2) income rise (3) price falls (4) income falls

Description : For an inferior good, demand falls when - (1) price rises (2) income rise (3) price falls (4) income falls

Last Answer : (2) income rise Explanation: In economics, income elasticity of demand measures the responsiveness of the demand for a good to a change in the income of the people demanding the good. ... opposite is observed. Normal goods are those for which consumers' demand increases when their income increases.

In the case of an inferior good, the income elasticity of demand is : (1) Zero (2) Negative (3) Infinite (4) Positive

Description : In the case of an inferior good, the income elasticity of demand is : (1) Zero (2) Negative (3) Infinite (4) Positive

Last Answer : (2) Negative Explanation: A negative income elasticity of demand is associated with inferior goods; an increase in income will lead to a fall in the demand and may lead to changes to more luxurious ... demand is associated with normal goods; an increase in income will lead to a rise in demand.

The income elasticity of demand being greater than one, the commodity must be - (1) a necessity (2) a luxury (3) an inferior good (4) None of these

Description : The income elasticity of demand being greater than one, the commodity must be - (1) a necessity (2) a luxury (3) an inferior good (4) None of these

Last Answer : (2) a luxury Explanation: In economics, income elasticity of demand measures the responsiveness of the demand for a good to a change in the income of the people demanding the good, ceteris paribus. It is ... If the elasticity of demand is greater than 1, it is a luxury good or a superior good.

In the case of an inferior good, the income elasticity of demand is : (1) Zero (2) Negative (3) Infinite (4) Positive

Description : In the case of an inferior good, the income elasticity of demand is : (1) Zero (2) Negative (3) Infinite (4) Positive 

Last Answer : Negative

For an inferior good, demand falls when (1) price rises (2) income rise (3) price falls (4) income falls

Description : For an inferior good, demand falls when (1) price rises (2) income rise (3) price falls (4) income falls

Last Answer : income rise

The income elasticity of demand being greater than one, the commodity must be (1) a necessity (2) a luxury (3) an inferior good (4) None of these

Description : The income elasticity of demand being greater than one, the commodity must be (1) a necessity (2) a luxury (3) an inferior good (4) None of these

Last Answer : a luxury

As Income increases the demand for inferior goods?

Description : As Income increases the demand for inferior goods?

Last Answer : decreases

How does the consumer income affect the demand for normal and inferior goods?

Description : How does the consumer income affect the demand for normal and inferior goods?

Last Answer : A consumers income can affect their demand for most goods, fornormal goods if the consumers income increases then there is ademand for more normal good, but a fall in income would cause ashift to the ... quantities, or not at all, if yourincome were to rise and you could afford something better.

How does the consumer income affect the demand for normal and inferior goods?

Description : How does the consumer income affect the demand for normal and inferior goods?

Last Answer : A consumers income can affect their demand for most goods, fornormal goods if the consumers income increases then there is ademand for more normal good, but a fall in income would cause ashift to the ... quantities, or not at all, if yourincome were to rise and you could afford something better.

A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Description : A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Last Answer : ; (c) Decrease in demand ;

What will be the effect on inferior commodities when income of the consumer rises? (1) Negative effect (2) Positive effect (3) No effect (4) First increase then decrease

Description : What will be the effect on inferior commodities when income of the consumer rises? (1) Negative effect (2) Positive effect (3) No effect (4) First increase then decrease

Last Answer : (1) Negative effect Explanation: In economics, an inferior good is a good that decreases in demand when consumer income rises (or rises in demand when consumer income decreases), unlike ... consumers' demand increases when their income increases. Cheaper cars are examples of the inferior goods.

What will be the effect on inferior commodities when income of the consumer rises? (1) Negative effect (2) Positive effect (3) No effect (4) First increase then decrease

Description :  What will be the effect on inferior commodities when income of the consumer rises? (1) Negative effect (2) Positive effect (3) No effect (4) First increase then decrease

Last Answer : Negative effect

If the price of an inferior good falls, its demand - (1) rises (2) falls (3) remains constant (4) can be any of the above

Description : If the price of an inferior good falls, its demand - (1) rises (2) falls (3) remains constant (4) can be any of the above

Last Answer : (1) rises Explanation: Some goods are known as inferior goods. With inferior goods, there is an inverse relationship between real income and the demand for the good in question. If real incomes rise, the ... than rely on the more inferior bus, so the demand for bus travel falls as real incomes rise.

If the price of an inferior good falls, its demand (1) rises (2) falls (3) remains constant (4) can be any of the above

Description : If the price of an inferior good falls, its demand (1) rises (2) falls (3) remains constant (4) can be any of the above

Last Answer : rises

The income elasticity of demand of inferior goods is generally (a) >1 ; (b) < 1 ; (c) < 0 ; (d) = 0

Description : The income elasticity of demand of inferior goods is generally (a) >1 ; (b) < 1 ; (c) < 0 ; (d) = 0

Last Answer : (c) < 0 ;

In the case of an inferior good, the income effect A.Partially offsets the substitution effect B.Is equal to the substitution effectC.Reinforces the substitution effectD.More than offsets the substitution effect

Description : In the case of an inferior good, the income effect A.Partially offsets the substitution effect B.Is equal to the substitution effect C.Reinforces the substitution effect D.More than offsets the substitution effect

Last Answer : A.Partially offsets the substitution effect

Are blue M&Ms superior or inferior to the others?

Description : Are blue M&Ms superior or inferior to the others?

Last Answer : answer:I’m old enough to remember tan M&Ms: http://content.time.com/time/specials/packages/article/0,28804,2011482_2011480_2011460,00.html I miss them. Lousy blue ones ;)

Is there a superior and inferior culture with explanation?

Description : Is there a superior and inferior culture with explanation?

Last Answer : Need answer

Is Philippine culture superior or inferior or to other culture?

Description : Is Philippine culture superior or inferior or to other culture?

Last Answer : No! Philippine culture is not inferior in any way to othercultures. Everyone places a premium on his/her culture.The way American, Nigerian, British or German culture isimportant to their people, is ... culture of other peoplethe same way we respect ours, the world becomes a better place tolive in.

What type of plane divides the body into superior and inferior?

Description : What type of plane divides the body into superior and inferior?

Last Answer : Need answer

The writ of Prohibition is issued by a superior court - (1) to prevent an inferior court or tribunal from exceeding its jurisdiction or acting contrary to the rules of natural justice (2) to an inferior court or body exercising judicial or quasijudicial functions to transfer the record to proceedings in a case for its review (3) where it can call upon a person to show under what authority he/she is holding the office (4) to an authority to produce an illegally detained person before the court for trial.

Description : The writ of Prohibition is issued by a superior court - (1) to prevent an inferior court or tribunal from exceeding its jurisdiction or acting contrary to the rules of natural justice (2) to an ... the office (4) to an authority to produce an illegally detained person before the court for trial.

Last Answer : (1) to prevent an inferior court or tribunal from exceeding its jurisdiction or acting contrary to the rules of natural justice Explanation: The writ of Prohibition is an order from a superior ... because the lower court does not have proper jurisdiction to hear or determine the matters before it.

The following are yoke muscles: a. right medial rectus and left lateral rectus b. right inferior rectus and left superior rectus c. right superior rectus and left inferior oblique d. right superior oblique and left inferior rectus

Description : The following are yoke muscles: a. right medial rectus and left lateral rectus b. right inferior rectus and left superior rectus c. right superior rectus and left inferior oblique d. right superior oblique and left inferior rectus

Last Answer : right superior oblique and left inferior rectus

What change did the dust of snow bring in the Poet‘s life? (a) It made him energetic (b) It made him superior (c) It made him inferior (d) It changed his mood

Description : What change did the dust of snow bring in the Poet‘s life? (a) It made him energetic (b) It made him superior (c) It made him inferior (d) It changed his mood

Last Answer : (d) It changed his mood

If a male is not stout and dominating, socially he is treated as (a) Superior (b) Inferior (c) Great (d) Perfect

Description : If a male is not stout and dominating, socially he is treated as (a) Superior (b) Inferior (c) Great (d) Perfect

Last Answer : (b) Inferior

Ray florets have (a) inferior ovary (b) superior ovary (c) hypogynous ovary (d) half inferior ovary

Description : Ray florets have (a) inferior ovary (b) superior ovary (c) hypogynous ovary (d) half inferior ovary

Last Answer : (a) inferior ovary

Veneering means (A) Carving out designs on timber planks (B) Chemically treating timber planks (C) Thick layer of superior wood glued to inferior wood (D) Thin layer of superior wood glued to inferior wood

Description : Veneering means (A) Carving out designs on timber planks (B) Chemically treating timber planks (C) Thick layer of superior wood glued to inferior wood (D) Thin layer of superior wood glued to inferior wood

Last Answer : Answer: Option C

Which muscle has insertion in the pterygoid raphe:** A. Superior constrictor of the pharynx B. Middle constrictor of the pharynx C. Inferior constrictor of the pharynx

Description : Which muscle has insertion in the pterygoid raphe:** A. Superior constrictor of the pharynx B. Middle constrictor of the pharynx C. Inferior constrictor of the pharynx

Last Answer : A. Superior constrictor of the pharynx

In the inferior alveolar block the needle goes through or close to which muscles: A. Buccinator and superior constrictor B. Medial and lateral pterygoid C. Medial pterygoid and superior instructor D. Temporal and lateral pterygoid E. Temporal and medial pterygoid

Description : In the inferior alveolar block the needle goes through or close to which muscles: A. Buccinator and superior constrictor B. Medial and lateral pterygoid C. Medial pterygoid and superior instructor D. Temporal and lateral pterygoid E. Temporal and medial pterygoid

Last Answer : A. Buccinator and superior constrictor

The only extraocular muscle which does not arise from the apex of the orbit is: a. Superior rectus b. Superior oblique c. Inferior oblique d. Inferior rectus

Description : The only extraocular muscle which does not arise from the apex of the orbit is: a. Superior rectus b. Superior oblique c. Inferior oblique d. Inferior rectus

Last Answer : ANSWER: C  

All the following are extraocular muscle of eye except: a. Superior rectus b. Ciliary muscle c. Inferior oblique d. Superior oblique

Description : All the following are extraocular muscle of eye except: a. Superior rectus b. Ciliary muscle c. Inferior oblique d. Superior oblique

Last Answer : ANSWER: B  

In DCR, the opening is made at: a. Superior meatus b. Middle meatus c. Inferior meatus

Description : In DCR, the opening is made at: a. Superior meatus b. Middle meatus c. Inferior meatus

Last Answer : ANSWER: B 

Men and woman may have different reproductive strategies but neither can be considered inferior or superior to the other, any more than a bird’s wings can be considered superior or inferior to a fish’s fins. What type of argument it is? (A) Biological (B) Physiological (C) Analogical (D) Hypothetical

Description : Men and woman may have different reproductive strategies but neither can be considered inferior or superior to the other, any more than a bird's wings can be considered superior or inferior to a fish's ... What type of argument it is? (A) Biological (B) Physiological (C) Analogical (D) Hypothetical

Last Answer : Answer: C

Seawater, fresh air, etc., are regarded in Economics as - (1) Giffen goods (2) inferior goods (3) free goods (4) normal goods

Description : Seawater, fresh air, etc., are regarded in Economics as - (1) Giffen goods (2) inferior goods (3) free goods (4) normal goods

Last Answer : (3) free goods Explanation: Free goods are what is needed by the society and is available without limits, The free good is a term used in economics to describe a good that is not scarce. A free good is available in as great a quantity as desired with zero opportunity cost to society.

Seawater, fresh air, etc., are regarded in Economics as (1) Giffen goods (2) inferior goods (3) free goods (4) normal goods

Description : Seawater, fresh air, etc., are regarded in Economics as (1) Giffen goods (2) inferior goods (3) free goods (4) normal goods

Last Answer : free goods

If an increase in investment leads to a bigger increase in national income (a) Accelerator (b) Aggregate demand © Monetarism (d) Multiplier

Description : If an increase in investment leads to a bigger increase in national income (a) Accelerator (b) Aggregate demand © Monetarism (d) Multiplier

Last Answer : (d) Multiplier

An increase in consumption at any given level of income will lead to (a) Higher aggregate demand. (b) An increase in exports. © A fall in taxation revenue. (d) A decrease in import spending.

Description : An increase in consumption at any given level of income will lead to (a) Higher aggregate demand. (b) An increase in exports. © A fall in taxation revenue. (d) A decrease in import spending.

Last Answer : (a) Higher aggregate demand.

As far as surgical removal of wisdom teeth is concerned which of the following is true? a- Prophylactic prescription of antibiotic reduces dramatically the chances of infection. b- Raising a lingual flap will increases the incidence of neurapraxia but will reduce the incidence of neurotmesis with respect to the lingual nerve. c- Prophylactic prescription of dexamethasone will dramatically reduce post operative swelling. d- Inferior dental nerve injury is unlikely since the nerve passes medial to the wisdom tooth root. e- The use of vasoconstrictors in local anaesthetics will increase the chances of infection.

Description : As far as surgical removal of wisdom teeth is concerned which of the following is true? a- Prophylactic prescription of antibiotic reduces dramatically the chances of infection. b- Raising a lingual ... e- The use of vasoconstrictors in local anaesthetics will increase the chances of infection.

Last Answer : b- Raising a lingual flap will increases the incidence of neurapraxia but will reduce the incidence of neurotmesis with respect to the lingual nerve.

As far as surgical removal of wisdom teeth is concerned, which of the following is true?**CHECK A. Prophylactic prescription of antibiotic reduces dramatically the chances of infection B. Raising a lingual flap will increases the incidence of neurapraxia but will reduce the incidence of neurotmesis with respect to the lingual nerve ADC M07 C. Prophylactic prescription of dexamethasone will dramatically reduces post operative swelling D. Inferior dental nerve injury is unlikely since the nerve passes medial to the wisdom tooth root E. The use of vasoconstrictors in local anaesthetics will increase the chances of infection.

Description : As far as surgical removal of wisdom teeth is concerned, which of the following is true?**CHECK A. Prophylactic prescription of antibiotic reduces dramatically the chances of infection B. Raising ... root E. The use of vasoconstrictors in local anaesthetics will increase the chances of infection.

Last Answer : C. Prophylactic prescription of dexamethasone will dramatically reduces post operative swelling

When income increase, consumption also increases : (1) in a lower proportion (2) in a higher proportion (3) in the same proportion (4) None of the options

Description : When income increase, consumption also increases : (1) in a lower proportion (2) in a higher proportion (3) in the same proportion (4) None of the options

Last Answer : (1) in a lower proportion Explanation: According to the Keynesian Consumption theory, "men are disposed, as a rule and on average, to increase their consumption as their income increases, but ... consume decreases, i.e., house-holds spend a decreasing proportion of marginal income on consumption.

Multiplier process in economic theory is conventionally taken to mean: (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases

Description : Multiplier process in economic theory is conventionally taken to mean: (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases

Last Answer : (3) income of an economy grows on account of an initial investment Explanation: In economics, a multiplier is a factor of proportionality that measures how much an endogenous variable changes in response to a change in ... of the U.S. money supply, and MO as a measure of the U.S. monetary base.

When income increase, consumption also increases : (1) in a lower proportion (2) in a higher proportion (3) in the same proportion (4) None of the options

Description : When income increase, consumption also increases : (1) in a lower proportion (2) in a higher proportion (3) in the same proportion (4) None of the options

Last Answer : in a lower proportion

Multiplier process in economic theory is conventionally taken to mean : (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases

Description : Multiplier process in economic theory is conventionally taken to mean : (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases

Last Answer : income of an economy grows on account of an initial investment 

A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Description : A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Last Answer : (a) An increase in demand ;

An increase in per capital income is not an indication of an increase in the economic welfare of the people - (1) When such increase is the result of an increased production action of comforts (2) When such increase is the result of an increase in agricultural production (3) When it is the result of an increase in the production of industrial goods (4) When such increase is the result of increased production of intoxicants

Description : An increase in per capital income is not an indication of an increase in the economic welfare of the people - (1) When such increase is the result of an increased production action of ... the production of industrial goods (4) When such increase is the result of increased production of intoxicants

Last Answer : (4) When such increase is the result of increased production of intoxicants Explanation: An increase in per capita income due to increased production of intoxicants cannot be taken as economic ... population, include: GDP, literacy, access to health care, and assessments of environmental quality.

An increase in per capital income is not an indication of an increase in the economic welfare of the people (1) When such increase is the result of an increased production of comforts (2) When such increase is the result of an increase in agricultural production (3) When it is the result of an increase in the production of industrial goods (4) When such increase is the result of increased production of intoxicants

Description : An increase in per capital income is not an indication of an increase in the economic welfare of the people (1) When such increase is the result of an increased production of comforts ( ... production of industrial goods (4) When such increase is the result of increased production of intoxicants 

Last Answer : When such increase is the result of increased production of intoxicants