Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

If income effect works in the direction opposite to that of substitution effect, the good is not:

/ » Micro Economics 1 solved MCQs / By
Question:

If income effect works in the direction opposite to that of substitution effect, the good is not:

A.

Giffen good

B.

Inferior good

C.

Normal good

D.

Superior Good

Answer» c. Normal good

Note: The above multiple-choice question is for all general and Competitive Exams in India.