Income Elasticity Is Defined as The

question 70

Multiple Choice

Income elasticity is defined as the:

• A) change in demand divided by the change in income.
• B) percentage change in demand divided by the percentage change in income.
• C) change in income divided by the change in demand.
• D) percentage change in income divided by the percentage change in demand.

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Definitions:

AC

Short for Alternating Current, a type of electrical current in which the flow of electric charge periodically reverses direction.

DC

Direct Current, a type of electrical current flowing in one direction only, unlike alternating current (AC).

Delco-Remy Intelli-Check

A diagnostic tool designed by Delco-Remy for checking the electrical systems of vehicles.

Diagnose

The process of identifying a problem or fault through examination of symptoms, signs, or through testing.