A Measure of the Responsiveness of Demand to Changes in Income

question 335

Multiple Choice

A measure of the responsiveness of demand to changes in income, all other things being constant, is

• A) income elasticity of demand.
• B) price income elasticity of demand.
• C) price elasticity of demand.
• D) cross price elasticity of demand.

---

Definitions:

Libertarians

Individuals who advocate for minimal government intervention in personal lives and emphasize individual freedom and autonomy.

Reasoning Processes

Cognitive operations used in thinking, understanding, and forming judgments or conclusions from premises or evidence.

Cognitive Dissonance Theory

A theory which suggests that individuals experience discomfort, termed dissonance, when holding two or more conflicting cognitions, leading them to change their attitudes, beliefs, or behaviors.

Dating Service

A business or platform that facilitates introductions between individuals for the purpose of finding romantic partners.