Which Good Would You Expect to Have the Highest Income

question 118

Multiple Choice

Which good would you expect to have the highest income elasticity of demand

• A)water
• B)diamonds
• C)hamburgers
• D)housing

---

Definitions:

American Authors

Writers from the United States who have contributed to various genres of literature, including fiction, non-fiction, poetry, and more.

Slave Trade

The historical trade in enslaved Africans, transported primarily to the Americas, which formed part of a triangular trade route involving Europe, Africa, and the Americas.

African American Culture

A combination of social, artistic, and religious practices and contributions developed by African Americans through their shared history and experience in the United States.