When Income Elasticity of Demand Is a Negative Number,one Can

question 19

Multiple Choice

When income elasticity of demand is a negative number,one can correctly conclude that:

• A)the good is a normal good.
• B)the good is an inferior good.
• C)the good is a substitute.
• D)the good is a complement.
• E)total revenue will decrease when the price increases.

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Definitions:

DSM-5

The fifth edition of the Diagnostic and Statistical Manual of Mental Disorders, a major classification of mental disorders used by professionals in the U.S.

Self-Fulfilling

A prediction or expectation that indirectly or directly causes itself to become true.

Subjective Labels

Terms or classifications based on personal opinions, feelings, or interpretations rather than objective measures.

Research Domain Criteria Project

An initiative by the National Institute of Mental Health aiming to classify mental disorders based on dimensions of observable behavior and neurobiological measures.