Suppose When the Consumer's Income Rises by 100%, the Consumer's $x$

question 59

Multiple Choice

Suppose when the consumer's income rises by 100%, the consumer's consumption of good $x$ falls by 1%. We can infer that the consumer's income elasticity for good $x$ is

• A) -1
• B) -0.01
• C) 1
• D) 0.01

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Definitions:

New World

A term historically used to refer to the Americas, indicating their discovery by European explorers during the Age of Exploration.

Disease

A disorder of structure or function in a human, animal, or plant, especially one that produces specific symptoms or that affects a specific location and is not simply a direct result of physical injury.

Discipline

Training to ensure proper behavior, often through regulations and orders, or the controlled behavior resulting from such training.