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:

Financial Statements

Records that provide an overview of a company's financial condition, including balance sheet, income statement, and cash flow statement.

Stock Market

The stock market is a collection of markets and exchanges where the buying, selling, and issuance of shares of publicly-held companies take place.

Statement of Cash Flows

A financial report that provides aggregate data regarding all cash inflows and outflows a company receives from its ongoing operations, investment, and financial activities.

Transactions

Acts of buying or selling goods, services, or financial instruments.