A student at New York University used to take the Redhound bus when she visited her grandmother in Boston. After graduating, although the bus fare and the plane fare were the same as they were when she was a student, with a well-paid job on Wall Street she now takes the plane to Boston to visit her grandmother. For this student, travel by Redhound bus is

An inferior good.

Explanation:

Normal Good

This is simply known as goods whose demand increases as income of people rises and the demand falls also when there is a fall in income.

Inferior Good

This is simply known as goods that their demand reduced or decreases when the income of consumers do rises and also the demand also rises when consumer income falls. This is quite different fro. normal goods, for which the opposite is observed.

An increase in disposable income simply shows that the demand curve shifts rightwards and it depend largely o whether the goods is a normal goods or inferior goods.

trade regulation is a field of law, often bracketed with antitrust (as in the phrase “antitrust and trade regulation law”), including government regulation of unfair methods of competition and unfair or deceptive business acts or practices. antitrust law is often considered a subset of trade regulation law. franchise and distribution law, consumer protection law, and advertising law are sometimes considered parts of trade regulation law.

in general the theory of economics says that the more open to trade a country is the better   the result for the same country and the whole economies.

in real life countries impose taxes, quotas, etc which is not so good for the economies.

this kind of commercial war between the usa and china is slowing down the growth of the whole world so we can say that it is a draw back of trade regulations. and the free trade agreements are benefits of trade regulations.

hygrometers and hair thermometers (often found as part of hygrometers/psychrometers) can be used to measure humidity. barometers are used to measure atmospheric pressure, while anemometers are used to measure wind speed. so the 2nd and 4th choices should be the correct answers.