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For which of the following goods is the income elasticity of demand likely lowest?
Wealthy Countries
Nations with a high standard of living, significant economic production, and prosperous conditions for their residents.
Health Care Expenditures
The total amount of money spent on health care services and products within a specific period.
Per Person
is a measure or quantity allocated or attributed to each individual in a group or population.
Social Insurance
A public insurance program that provides protection against economic risks (e.g., unemployment, disability, old age).
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