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प्रश्न
True or False with Reasons:
An increase in the income of a consumer would lead to an increase in demand for all types of goods demanded by him.
सत्य या असत्य
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उत्तर
This statement is false.
Reason:
- An increase in income raises demand for normal goods but may reduce demand for inferior goods.
- Demand for necessities may remain unchanged, so income growth does not increase demand for every type of good.
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