If a Good Is Inferior in an Economic Sense, Income

question 239

Multiple Choice

If a good is inferior in an economic sense, income elasticity will:

• A) be less than one.
• B) exceed one.
• C) be zero.
• D) be inelastic.
• E) be negative.

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Definitions:

Tectum

Roof (area above the ventricle) of the midbrain; its functions are sensory processing, particularly visual and auditory, and the production of orienting movements.

Tegmentum

The tegmentum is a part of the brainstem involved in movement and arousal; it helps regulate many basic functions of life including awareness, and the modulation of pain.

Glial Cells

In the nervous systems, both central and peripheral, there exist cells that are not neurons but serve to protect and support neuronal cells.

Neurons

The basic working units of the brain and nervous system, cells that transmit information via electrical and chemical signals.