A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes

Related MCQs

• A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes
• If the disposal income of a household increases by 10% and the demand for bread falls by 5%. The income elasticity of bread is
• If the disposal income of a household increases by 10% and the demand for X commodity increased by 25%. The income elasticity of X is
• If the disposal income of a household increases by 10% and the demand for X commodity increased by 10% the income elasticity of X is
• If the disposal income of a household decreases by 10% and the demand for X commodity remains same. The income elasticity of X is
• If there is simultaneous fall in consumers disposal income as well number of suppliers of a product in the market, the
• If both the disposal income as well as number of suppliers of a product rises, the equilibrium
• From the following equation estimated consumption when disposal income is `1000 is C = `200+0.80Yd
• The field of economics that is now called Macroeconomics grew out of the era of the Great Depression, which saw the economy experience a prolonged downturn and persistent high unemployment. Classical economics could not explain these problems because its models assumed all of the following EXCEPT
• An individual is spending his entire income on two items A and B equally. If income elasticity of A is 4 what is income elasticity of B