Multiple Choice
Which of the following goods (with their respective income elasticity coefficients in parentheses) will most likely suffer a decline in demand during a recession?
A) dinner at a nice restaurant (+1.8)
B) chicken purchased at the grocery store for preparation at home (+0.25)
C) second-hand clothing (-0.6)
D) plasma screen and LCD TVs (+4.2)
Correct Answer:
Verified
Correct Answer:
Verified
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