Which of the Following Statements Is True

Essay

Which of the following statements is true?
A.When the income elasticity of demand is positive, the good is an inferior good.
B.When the income elasticity of demand is negative, the good is a normal good.
C.Income elasticity of demand measures how much the demand for a good is affected by changes in consumers' incomes.
D.Income elasticity of demand measures the effect of the change in one good's price on the quantity demanded of the other good.