Income Elasticity of Demand for Good a Is -0

question 174

Multiple Choice

Income elasticity of demand for good A is -0.22. Good A is income __________ and is a(n) __________ good.

• A)unit elastic; normal
• B)elastic; inferior
• C)inelastic; normal
• D)elastic; normal
• E)inelastic; inferior

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Definitions:

Predisposed

Inclined or susceptible to a particular condition or outcome, often due to genetic or environmental factors.

Sensitive Period

An early period during the development of an organism when it is particularly responsive to environmental stimulation. Outside of this period, the same environmental events have less impact.

Skill Level

The degree of competence or proficiency an individual has in performing a particular task or activity.

Aphasia

Any of a number of linguistic disorders caused by injury to or malformation of the brain.