Multiple Choice
The income elasticity of demand for foreign travel
A) is likely to be smaller than the income elasticity of demand for food.
B) is likely to be larger than the income elasticity of demand for food.
C) cannot be compared to the income elasticity of demand for food.
D) is likely to be inelastic.
E) is likely to be negative.
Correct Answer:
Verified
Correct Answer:
Verified
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