If a Good Has an Income Elasticity of Demand Greater

question 42

Multiple Choice

If a good has an income elasticity of demand greater than one,one might classify that good as

• A)a necessity.
• B)a luxury.
• C)unusual.
• D)inelastic.

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Definitions:

Drinks

Beverages of any kind, including water, juice, soda, and alcoholic beverages, that are consumed for hydration, nutrition, or pleasure.

Marijuana-Related Problems

Issues arising from the use of marijuana, including dependency, legal consequences, and health complications.

Marijuana

A psychoactive drug from the Cannabis plant used for medical or recreational purposes.

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The emotional and physical strain caused by one's work environment and duties, potentially leading to negative health outcomes.