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When National Income Falls,sales of Vacation Packages Also Fall,even at Constant

Question 8

Multiple Choice

When national income falls,sales of vacation packages also fall,even at constant prices.This fact suggests that the ________ elasticity of demand for vacation packages is ________.


A) income; positive
B) income; negative
C) price; positive
D) price; negative
E) cross; positive

Correct Answer:

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