A Good with a High Income Elasticity Is Generally Considered

question 160

Multiple Choice

A good with a high income elasticity is generally considered to be

• A) an inferior good.
• B) a luxury good.
• C) a necessity.
• D) inexpensive, relative to other goods.

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Definitions:

Union Organizing

The process of forming or joining a labor union to represent workers in negotiations over wages, hours, and working conditions.

Financial Misconduct

Unethical behavior related to the management of money, such as fraud, embezzlement, or insider trading.

Protected Class

A category of people who are legally protected from discrimination by law, based on characteristics such as race, gender, age, disability, or sexual orientation.

Whistleblower

An individual who reports misconduct, alleged dishonest or illegal activity occurring in an organization.