An Inferior Good Has a ________ Elasticity of Demand

question 296

Multiple Choice

An inferior good has a ________ elasticity of demand.

• A) positive income
• B) negative income
• C) negative cross
• D) positive cross
• E) negative price

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Definitions:

Negotiable Instrument

A written document signed by a person who makes an unconditional promise to pay a specific sum of money on demand or at a certain time to the holder of the instrument; an acceptable medium for exchanging value from one person to another.

Representative Capacity

Acting on behalf of someone else or a group in a legal or official matter.

Poisonous Lead Paint

A type of paint containing lead compounds that are toxic and hazardous to health, especially harmful to children's neurological development.

Independent Contractor

An individual or entity contracted to perform work for—or provide services to—another entity as a non-employee.