Economists have found evidence of a Giffen good when studying the consumption of rice in the Chinese province of Hunan.

Question

Quizplus · Accepted Answer

Economists Robert Jensen and Nolan Miller provided evidence for the existence of a Giffen good when studying the consumption patterns of rice (and wheat) in Hunan, China, observing that as the price of rice increased, poor households bought more rice, consistent with the definition of a Giffen good.

Economists Have Found Evidence of a Giffen Good When Studying