When the economy suffers a downturn and the incomes of many people decrease, vacationers are more likely to take car trips than to fly.Which of the following provides one possible explanation for this phenomenon?
A.Air travel and vacation travel by car are complementary goods.
B.Air travel and vacation travel by car are both normal goods.
C.Air travel is a normal good and vacation travel by car is an inferior good.
D.Air travel is an inferior good and vacation travel by car is a normal good.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q3: Which of the following will not cause
Q4: A negative relationship between the quantity demanded
Q4: _ illustrates an inverse relationship between price
Q5: Which of the following factors would cause
Q7: A decrease in the price of eggs
Q10: Over the past several years, consumers have
Q11: A shift of the demand curve for
Q12: Which of the following examples illustrates the
Q13: The law of demand states that other
Q18: The law of demand implies that:
A)consumers are
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents