If the Income Elasticity of Demand for a Good Is

question 45

Multiple Choice

If the income elasticity of demand for a good is negative, the good is said to be a(n) :

• A) inferior good.
• B) negative good.
• C) positive good.
• D) normal good.

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Definitions:

Retirement Contingency

A plan or preparation for potential variables or unforeseen events that may affect one's retirement.

Heirs

Heirs are individuals legally entitled to receive a portion or all of an estate upon the death of the estate's owner.

Business Incubators

Business incubators are organizations designed to support the successful development of entrepreneurial companies through an array of business support resources and services.

Small Businesses

Independent businesses with fewer employees and lower revenue compared to larger corporations.