If We Measure the Income Elasticity of a Good as −1.8

question 82

Multiple Choice

If we measure the income elasticity of a good as −1.8, this means this good is a(n) :

• A) luxury good.
• B) substitute good.
• C) complementary good.
• D) inferior good.
• E) good from the food group.

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Definitions:

True To False Transition

refers to the change of a digital signal or condition from a true (high, active) state to a false (low, inactive) state.

Retentive Timer

A type of timer in programmable logic controllers (PLCs) that retains its value even when the power is turned off or when the device is in an idle state.

Retentive Timers

Timers that retain their value even after the controlling input is turned off, allowing them to resume timing from the same point when reactivated.