The Increase in Imports Induced by a Dollar Increase in Income

question 55

Multiple Choice

The increase in imports induced by a dollar increase in income is called the ________________.

• A)import elasticity of demand
• B)marginal propensity to import
• C)income elasticity of imports
• D)none of the above

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Definitions:

Market Demand

The total quantity of a product or service that consumers are willing and able to purchase at various price levels.

Demographic Profile

A statistical analysis of the characteristics of a specific population, including age, race, gender, income, and education.

Nonuser Profiles

Analysis or descriptions of the characteristics of individuals or entities that do not use a particular product, service, or platform, used to understand market gaps or barriers to entry.

Field Support

Assistance and services provided to operational sites or field operations, often involving technical support, maintenance, and troubleshooting.