If Income Elasticity for a Particular Good Has a Negative

question 5

Multiple Choice

If income elasticity for a particular good has a negative sign:

• A)the good is a normal good.
• B)as income increases,consumers will tend to purchase more of the good.
• C)as income increases,consumers will tend to purchase less of the good.
• D)the good is a luxury good.

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Definitions:

Formatting Enhancements

Modifications or adjustments made to the appearance or layout of data in a software application to improve readability or presentation.

Background Color

The color of the area behind the main content or objects in a graphical user interface or document, which can be set to enhance aesthetics or readability.

Font Color

An attribute of text that determines the color in which the text is displayed.

Layout

The arrangement of elements within a page, form, or graphical user interface, which affects the presentation and usability of the information.