Suppose that Carolyn receives a pay increase. What would we expect?

Name: Suppose that Carolyn receives a pay increase. What would we expect?
Brand: Quizplus
Rating: 4.9 (50 reviews)

Question

Quizplus · Accepted Answer

When Carolyn receives a pay increase, her purchasing power increases. As a result, she is likely to buy less of inferior goods, which are goods that people buy less of as their income rises, and more of normal or luxury goods, which are goods that people buy more of as their income increases.

Suppose That Carolyn Receives a Pay Increase