Which One of the Following Must Be True If Demand

question 111

Multiple Choice

Which one of the following must be true if demand is income inelastic?

• A)A large percentage increase in income will result in a small percentage increase in quantity demanded.
• B)A small percentage increase in income will result in a large percentage increase in quantity demanded.
• C)An increase in income will decrease the quantity demanded.
• D)The good is an inferior good.
• E)A percentage rise in price increases the quantity demanded by a smaller percentage.

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Definitions:

Observing Behavior

The act of systematically watching and analyzing individuals' actions in various situations to understand their conduct.

Heavy Drinking

Consuming large quantities of alcohol in a short period, typically leading to health risks and social or legal problems.

Binge Drinking

The consumption of an excessive amount of alcohol in a short period of time, often defined as five or more drinks for males and four or more drinks for females within about two hours.

Problem Drinking

Alcohol consumption that leads to health issues, social problems, or distress, indicating potential alcohol abuse or dependence.