Table 5-8 -Refer to Table 5-8. Using the Midpoint Method, the Income

question 140

Multiple Choice

Table 5-8
-Refer to Table 5-8. Using the midpoint method, the income elasticity of demand for good Y is

• A)2.33, and good Y is a normal good.
• B)-2.33, and good Y is an inferior good.
• C)-0.43, and good Y is a normal good.
• D)-0.43, and good Y is an inferior good.

---

Definitions:

Behaviorism

A school of psychology that focuses on observable behaviors as the subject matter and disregards internal processes like thinking.

Belongingness Needs

A fundamental human need to form and maintain strong, stable interpersonal relationships.

Esteem Needs

These are psychological requirements for respect, self-esteem, and recognition, forming a part of Maslow's hierarchy of needs.

Psychoanalysis

A set of theories and therapeutic techniques related to the study of the unconscious mind, developed by Sigmund Freud, that aims to treat mental disorders.