If the Income Elasticity of a Good Is Negative,then

question 47

Multiple Choice

If the income elasticity of a good is negative,then

• A) the good must be a Giffen good.
• B) the substitution and income effects must be moving in the same direction.
• C) the Engel curve for this good must be downward sloping.
• D) the law of demand must be satisfied for this good.

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Definitions:

Metabolism

The set of life-sustaining chemical reactions in organisms for converting food into energy.

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Chromosomal abnormalities where the number of chromosomes in a cell is not an exact multiple of the haploid set, leading to genetic disorders or variations.

Chromosome

A structure of nucleic acids and protein found in the nucleus of most living cells, carrying genetic information in the form of genes.

Maternal PKU

A concern in pregnancies of women with phenylketonuria (PKU), where elevated levels of phenylalanine can lead to developmental issues in the fetus.