12. If demand is perfectly inelastic A. the substitution effect is zero. B. the income effect is zero. C. the sum of the substitution and income effects is zero. D. None of the above are true. 13. If a good is inferior and the income effect is larger than the substitution effect A. the good is a Giffin good. B. the good is a Hicksian good. C. the demand for the good is elastic. D. the demand for the good is horizontal.