Suppose Good X Has a Negative Income Elasticity of Demand

question 88

Multiple Choice

Suppose good X has a negative income elasticity of demand.This implies that good X is

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

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Definitions:

Biopsychosocial Approach

An integrated perspective that acknowledges that biological, psychological, and social factors all play a significant role in human functioning in the context of disease or illness.

Self-Esteem

One’s feelings of high or low self-worth.

Behavior Genetics

The study of the role genetic factors play in shaping behaviors, traits, and abilities.

Observable Responses

Behaviors or actions that can be seen or measured as a reaction to stimuli.