If a 1 Percent Change in Income Generates a Greater

question 165

Multiple Choice

If a 1 percent change in income generates a greater than 1 percent change in quantity demanded of boating expenditures, then boating is an:

• A) example of Engel's law.
• B) inferior good.
• C) income inelastic good.
• D) income elastic good.
• E) example of a substitute good.

---

Definitions:

Good Cook

Someone skilled in cooking and preparing meals in an appetizing and creative way.

Prepared

Being prepared involves being ready and equipped to handle or address a specific situation, condition, or event.

Lip Muscles

Muscles surrounding the mouth involved in facial expressions and the articulation of speech, including the orbicularis oris.

Gilberto

Typically a person's name, which may not have a singular widely-recognized definition without context.