Income Elasticity of Demand Is Defined as

question 146

Multiple Choice

Income elasticity of demand is defined as

• A) the change in price divided by change in income.
• B) the change in demand divided by the change in income.
• C) the change in demand divided by change in income.
• D) the percentage change in demand divided by percentage change in income.
• E) the percentage change in demand divided by percentage change in price.

---

Definitions:

O'Keeffe

An American artist, Georgia O'Keeffe, renowned for her large-format paintings of natural forms, especially flowers and landscapes.

New York, Night

A phrase evoking the vibrant nightlife and illuminated cityscape of New York City during the nighttime.

Imposing Mass

A structure or object that is large and impressive in appearance or size.

American Gothic

A painting by Grant Wood from 1930, depicting a farmer and his daughter standing in front of a house, iconic for its portrayal of rural American life.