If the Income Elasticity of a Good Is Positive, We

question 91

Multiple Choice

If the income elasticity of a good is positive, we can conclude that the good is

• A) an inferior good.
• B) a normal good.
• C) a luxury good.
• D) a necessity.

---

Definitions:

Organized Religion

The structured institution of religious beliefs and rituals governed by a set of doctrinal laws.

Upstart Churches

Newly established religious groups or congregations, often characterized by nontraditional practices and beliefs.

War For Independence

Refers to a conflict through which a nation or group of people seeks to gain or confirm independence from another governing power, most notably the American Revolutionary War.

Anti-Catholicism

Hostility towards or opposition against Catholics or the Catholic Church, often based on religious, social, or political grounds.