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If a 1 Percent Change in Income Generates a Greater

Question 165

Multiple Choice

If a 1 percent change in income generates a greater than 1 percent change in quantity demanded of boating expenditures, then boating is an:


A) example of Engel's law.
B) inferior good.
C) income inelastic good.
D) income elastic good.
E) example of a substitute good.

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