The Income Elasticity of Demand Is ________ If the Good

question 80

Multiple Choice

The income elasticity of demand is ________ if the good is ________ good.

• A) positive; a normal
• B) positive; an inferior
• C) negative; a normal
• D) less than one; an inferior
• E) positive; a substitute

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Definitions:

Benefits

Advantages or positive outcomes that arise from a particular action, product, or service.

Tangible

Refers to physical items or properties that can be seen, touched, and measured.

Measurable

Able to be measured or represented using numbers.

Assess

To assess or determine the characteristics, capacity, or value of something.