It Is Likely That ______________ Has an Income Elasticity Less

question 63

Multiple Choice

It is likely that ______________ has an income elasticity less than 1,and _____________ have an income elasticity more than 1.

• A) coffee; sailboats
• B) sailboats; cars
• C) vacations; cell phones
• D) filet mignon; chicken

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Definitions:

Discrediting

The process of causing someone or something to lose respect or the belief in their credibility.

Bad

A general term describing something that is considered undesirable, harmful, or morally wrong.

Conservative

A political and social ideology emphasizing traditional values, limited government, and resistance to rapid change.

Middle-class

A social class typically characterized by moderate income levels, educational attainment, and occupational status, situated between the lower and upper classes.