If an Increase in Income Results in a Decrease in the Quantity

question 74

Multiple Choice

If an increase in income results in a decrease in the quantity demanded for a product, the product is ________, and the value of the income elasticity of demand is ________.

• A) a normal good; positive
• B) a normal good, negative
• C) an inferior good; positive
• D) an inferior good; negative

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Definitions:

Responsiveness

The quality of reacting quickly and positively, or the degree to which a system or living organism responds to a stimulus or environment.

Epigenetic Effect

Changes in gene expression caused by mechanisms other than changes in the DNA sequence, influenced by environmental factors, behaviors, and lifestyle.

Chemical Marks

Biologically significant molecules that attach to DNA or proteins and play a role in gene expression and regulation.

DNA

Deoxyribonucleic acid, a molecule containing the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.