If a Good Is Normal the Income Elasticity of Demand

question 120

Multiple Choice

If a good is normal the income elasticity of demand must be

• A)Positive and greater than 1
• B)Merely positive (not necessarily greater than 1)
• C)Zero
• D)Negative

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Definitions:

Core Group

refers to a central or primary group of people within an organization or community who play a key role in decision-making or activities.

Long-Term Workers

Employees who have been with an organization for an extended period, often providing stability and deep organizational knowledge.

Self Management

The ability of an individual to regulate and control their own behaviors and actions to achieve personal and professional goals.

Skill

The ability to translate knowledge into action that results in desired performance.