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    3. Econometrics and Statistics
    4. Econometrics
    5. An inferior good is one for which an increase in income causes a(n)

    Question

    An inferior good is one for which an increase in income

    causes a(n)
    A Decrease in supply Correct Answer Incorrect Answer
    B Increase in demand Correct Answer Incorrect Answer
    C Increase in supply Correct Answer Incorrect Answer
    D Decrease in demand Correct Answer Incorrect Answer

    Solution

    In case of inferior goods, income and demand is inversely related

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