If a Good Is Inferior, Its Income Elasticity Will Be

question 344

Multiple Choice

If a good is inferior, its income elasticity will be

• A) 0.
• B) 1.0.
• C) negative.
• D) positive.

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Definitions:

Popular

Being liked, admired, or supported by a large number of people or within a specific community or group.

Traits

Characteristic patterns of behavior, thought, or emotional experience that are relatively stable across time and situations.

Complementary

Refers to things that combine in such a way as to enhance or emphasize each other's qualities, or the use of alternative therapies alongside conventional treatments in medicine.

Proximal

Referring to something that is close in distance, time, or relationship.