A Good Is Normal If the Sign on the Income

question 123

Multiple Choice

A good is normal if the sign on the income elasticity formula is

• A)Positive.
• B)Greater than 1.
• C)Less than 1.
• D)Negative.

---

Definitions:

Check Register

A record book or ledger that tracks all checks written, deposits made, and current balance of a checking account, aiding in personal financial management.

Bank Statement

A document provided by a bank that summarizes an account's transactions and balances over a specified period.

Outstanding Checks

Checks that have been written and recorded in accounting but not yet cleared or cashed by the bank.

Service Charge

An additional fee added to a customer's bill for the provision of certain services.