If Good Z Has an Income Elasticity of 1

question 172

Multiple Choice

If good Z has an income elasticity of 1.0, then demand for good Z is income __________ and the good is __________.

• A)inelastic, normal
• B)inelastic, inferior
• C)elastic, normal
• D)elastic, inferior
• E)unit elastic, normal

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Definitions:

Authoritative

A parenting style characterized by high responsiveness and high demands, fostering independence with guidelines.

Parenting Style

The manner in which parents raise their children, including disciplinary strategies, warmth and nurturance, and communication.

Behavioral Control

Strategies and techniques used to manage or guide an individual's behavior towards meeting certain standards or achieving specific goals.

Authoritarian

A rephrased definition: Describing a manner of governance or leadership that demands strict obedience and limits personal freedoms, often without consultation or input from those being led.