The Income Elasticity of Demand for Caviar Tends to Be

question 302

Multiple Choice

The income elasticity of demand for caviar tends to be

• A)high because caviar is relatively expensive.
• B)low because caviar is packaged in small containers.
• C)high because buyers generally feel that they can do without it.
• D)low because it is almost always in short supply.

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Definitions:

TANF Program

The TANF Program, or Temporary Assistance for Needy Families, is a federal assistance program in the United States designed to help needy families achieve self-sufficiency.

Welfare

A government program designed to support the well-being of its citizens, especially those in financial need.

Employment

The state of having paid work, or the total number of people who are currently hired in a certain region or industry.

Discriminatory Forces

Factors or practices that lead to unfair treatment of individuals or groups based on certain characteristics, leading to inequality.