If the Income Elasticity of Demand of a Good Is

question 58

Multiple Choice

If the income elasticity of demand of a good is positive, we can conclude that the good is:

• A) a normal good.
• B) an inferior good.
• C) a substitute.
• D) a complement.

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Definitions:

Puzzle Box

An experimental apparatus used in animal learning research, where an animal must solve a problem or manipulate mechanisms to escape or obtain a reward.

Law of Effect

A principle in psychology that states behaviors followed by positive outcomes are likely to be repeated, while those followed by negative outcomes are less likely to be repeated.

Pleasurable Consequence

A positive outcome or reward that follows a behavior, increasing the likelihood of the behavior being repeated.

Positively Reinforced

A process in behavioral psychology whereby a behavior is encouraged by rewards, leading to an increase in the likelihood of its recurrence.