Individual consumer demand declines for inferior goods as personal income increases because consumers replace them with more
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Individual consumer demand declines for inferior goods as personal income increases because consumers replace them with more desirable alternatives. Is an inverse relation between demand and national income likely for such products?
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No not usually Theoretically it is plausible that the aggregate demand for some goods and services might be countercyclical actually rising during a business recession and falling during an economic b...View the full answer
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