The Larger the Proportion of Income Spent on a Product

question 91

Multiple Choice

The larger the proportion of income spent on a product, other things equal, what is indicated?

• A) The consumer's demand is more inelastic.
• B) The consumer's demand curve is more vertical.
• C) The consumer's demand is more elastic.
• D) The consumer's demand is more unit elastic.

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Definitions:

Anxiety

A mental health disorder characterized by feelings of worry, anxiety, or fear that are strong enough to interfere with one's daily activities.

ODD

Oppositional Defiant Disorder, a behavioral disorder in children characterized by a consistent pattern of angry, defiant, and vindictive behavior towards authority figures.

Childhood-Onset

The initiation or appearance of symptoms or conditions during the early years of a person's life.