Which One of the Following Is True If Demand Is

question 7

Multiple Choice

Which one of the following is true if demand is income inelastic?

• A)The percentage change in income is greater than the percentage change in quantity demanded.
• B)The percentage change in income is smaller than the percentage change in quantity demanded.
• C)An increase in income decreases demand.
• D)The good is an inferior good.
• E)A rise in price increases the quantity demanded.

Avoid generalizations in cross-cultural communication and practice cultural sensitivity.

Recognize the importance of active listening and providing support in interpersonal communication.

Understand the concept of incentive motivation and its external influences.

Compare and contrast different motivational models, particularly those of Tolman and Hull.

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Definitions:

Appropriations

Funds that are set aside by a governing body, like a legislature, for a specific use or purpose as part of a budget or spending bill.

Tuition

The fee for instruction, especially for higher education institutions.

Price-Elastic

Describes a situation where the demand for a product changes significantly in response to changes in its price.

Total Revenue

The full amount of income generated by a business from selling goods or services, calculated as price per unit times the number of units sold.