Multiple Choice
The income elasticity of demand is________.
A) always positive.
B) always negative.
C) positive for a normal good and negative for an inferior good.
D) negative for a normal good and positive for an inferior good.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q17: An indifference curve is _.<br>A) all the
Q18: Utility is a measure of<br>A) the satisfaction
Q19: Most analysts agree that if prices and
Q20: According to the assumption of the basic
Q21: Consumers' preference are described by<br>A) indifference curves.<br>B)
Q22: An increase in p will _ the
Q23: Which of the following will increase consumption
Q24: When labor suppliers choose how much time
Q26: When consumers receive distributions of free rise,the
Q27: If one worker suppliers more hours of