Income Elasticity of Demand for a Normal Good Is Always

question 115

Multiple Choice

Income elasticity of demand for a normal good is always

• A)less than zero.
• B)greater than zero.
• C)equal to zero.
• D)less than one.

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Definitions:

Experimental Group

The group in an experiment whose experience is changed as part of the experiment.

Hypothetical Group

An imagined or theoretical group of individuals created for the purpose of discussion, analysis, or experimentation.

Reliable

Consistently good in quality or performance; able to be trusted.

Observations

The action or process of closely monitoring or noticing something or someone, often to gather data or information.