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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

Harry’s income declines, and as a result, he buys more pumpkin juice. Is pumpkin juice an inferior or a normal good? What happens to Harry’s demand curve for pumpkin juice?

To determine

Classifying inferior good and normal good.

Explanation

Since Harry’s demand for pumpkin juice increases when his income declines, pumpkin juice is an inferior good for him...

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