When Income Increases from $30,000 a Year to $40,000 a Year,the

question 89

Multiple Choice

When income increases from $30,000 a year to $40,000 a year,the quantity demanded of weekend vacations by Sara increases from 2 a year to 5 a year.For Sara,the income elasticity of demand of weekend vacations is ________ and weekend vacations are ________ good.

• A) 3; a normal
• B) 4.5 a normal
• C) 1/3; an inferior
• D) -4.5; an inferior
• E) 1/3; a normal

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Definitions:

Authority-Obedience

A management approach focused on establishing clear lines of authority and expecting strict compliance from subordinates.

Country Club

A private club offering recreational sports, leisure activities, and dining facilities, typically reserved for members and their guests.

Empowerment

is the process of providing individuals or groups with the authority, confidence, and resources needed to make decisions and take action.

Decision-Making

The process of making choices among alternative possible courses of action.