Multiple Choice
The income elasticity of demand is a measure of the responsiveness of the
A) quantity of a good demanded to changes in income.
B) consumer's income to a change in the price of the goods he or she consumes.
C) quantity of a good demanded to changes in its price.
D) quantity of a good demanded to changes in another good's price.
Correct Answer:
Verified
Correct Answer:
Verified
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