Income Elasticity of Demand Measures How ___________________

question 220

Multiple Choice

Income elasticity of demand measures how ___________________.

• A)responsive the quantity of one good demanded to a change in the price of another good
• B)the consumption of various goods and services respond to change in income
• C)the quantity demanded responds to a change in price
• D)responsive the quantity supplied is to a change in price

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Definitions:

Secondary Market

The marketplace for the buying and selling of pre-owned securities or financial instruments.

IBM

International Business Machines Corporation, a multinational technology company known for its computer hardware, software, and IT services.

Direct Cash Flows

A financial statement that provides data regarding all cash inflows a company receives from its ongoing operations and external investment sources, as well as all cash outflows that pay for business activities and investments during a given period.