The Income Elasticity of Imports Is Given By

question 4

Multiple Choice

The income elasticity of imports is given by:

• A)the percentage change in income over the percentage change in imports
• B)the change in imports over the change in income
• C)the marginal propensity to import over the average propensity to import
• D)the average propensity to import over the marginal propensity to import

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Definitions:

Dissolved Gas

Gases that are incorporated into magma and can expand, leading to explosive volcanic eruptions as pressure decreases.

Rhyolite

A mostly fine-grained, felsic igneous rock, generally of volcanic origin; can contain glass, volcanic ash, pieces of pumice, and variable amounts of visible crystals (phenocrysts).

Thermal Energy

The internal energy present in a system due to the random movements of its molecules or atoms.

Conduction

The process by which heat or electricity is directly transmitted through a substance when there is a difference of temperature or of electrical potential.