If a 5 Percent Decrease in Income Leads to a 15

Multiple Choice

If a 5 percent decrease in income leads to a 15 percent decrease in the demand for a good,the income elasticity of demand equals

A) -1/3 and the good is an inferior good.
B) 1/3 and demand for the good is income elastic.
C) 3 and the good is a normal good.
D) -3 and the demand for the good is income inelastic.
E) 3 and the good is an inferior good.