Assume That a 4 Percent Increase in Income Across the Economy

question 92

Multiple Choice

Assume that a 4 percent increase in income across the economy produces an 8 percent increase in the quantity demanded of good X. The coefficient of income elasticity of demand is

• A) negative, and therefore X is an inferior good.
• B) negative, and therefore X is a normal good.
• C) positive, and therefore X is an inferior good.
• D) positive, and therefore X is a normal good.

Comprehend the distinctions and interrelations between various psychodynamic theories.

Acknowledge the impact of early childhood experiences on personality development as per psychodynamic theories.

Understand the role of reinforcement in behavior modification and its application in real-life scenarios.

Comprehend the significance of observable behavior in psychological research and implications for behaviorism.