If a Household Increases Its Consumption of a Good by 10

question 178

Multiple Choice

If a household increases its consumption of a good by 10 percent when its income increases by 5 percent,then the good is

• A)an inferior good.
• B)a luxury.
• C)a necessity.
• D)both an inferior good and a necessity.
• E)an unclassified good.

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Definitions:

Effective Collaboration

The process of different individuals or groups working together in a beneficial manner to achieve a common goal.

Motivational Plan

A strategy designed to identify and utilize incentives to achieve personal or professional goals.

Leadership Definition

The process of influencing and guiding individuals or groups towards achieving a common goal or objective.

Nurse Manager

A nurse manager is a registered nurse who is responsible for overseeing nursing staff in a healthcare facility, managing budgets, and ensuring the quality of care.