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:

Stepfathers

Men who are married to one's mother after the divorce or separation from one's biological father and may act as a parent to her children.

Financial Resources

Assets, wealth, or capital used to support a person’s or organization's needs and objectives.

New Stepfamily

A family unit formed when one or both partners in a marriage or committed relationship bring children from previous relationships.

Stepparents

Adults who become parents to their spouse's or partner's biological or adopted children in a blended family scenario.