For Which of the Following Types of Goods Would the Income

question 70

Multiple Choice

For which of the following types of goods would the income elasticity of demand be positive and relatively large?

• A)all inferior goods
• B)all normal goods
• C)goods for which there are many complements
• D)luxuries

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Definitions:

Universal

Relating to, affecting, or applicable to every part of something or to all within a category or group.

Psychoactive Drug

A substance that affects the brain's operation, leading to changes in how one perceives, feels, is conscious, thinks, or acts.

Alcohol

is a psychoactive substance that acts as a central nervous system depressant, often used socially for its effects on mood and behavior.

Alcohol

A chemical compound commonly found in beverages that can alter consciousness and have effects on the body.