Which One of the Following Must Be True If Demand

question 111

Multiple Choice

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

• A)A large percentage increase in income will result in a small percentage increase in quantity demanded.
• B)A small percentage increase in income will result in a large percentage increase in quantity demanded.
• C)An increase in income will decrease the quantity demanded.
• D)The good is an inferior good.
• E)A percentage rise in price increases the quantity demanded by a smaller percentage.

Differentiate between macroevolution, microevolution, and speciation.

Comprehend the impact of environmental and biological factors on species extinction.

Describe allometric growth and its role in evolution.

Evaluate the biological species concept's limitations.

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Definitions:

Investment Account

An account held at a financial institution that is used for investing in securities, such as stocks, bonds, and mutual funds.

Withdraw

The process of withdrawing money from a bank account or investment.

Compounded Monthly

It's the practice of assessing interest each month, by adding up both the initial amount invested or borrowed and the subsequent interest that's accumulated over time.

GIC's Maturity

The fixed date when a Guaranteed Investment Certificate (GIC) expires and the principal amount is returned to the investor along with the accrued earnings.