If income elasticity for a good or service is _____,then we can say that the good or service is _____.
A) zero;inferior
B) negative;normal
C) positive;inferior
D) positive;normal
Correct Answer:
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Q45: If a decrease in price leads to
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Q47: Along a downward-sloping straight-line demand curve,
A)demand is
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Q49: If demand is unit elastic a small
Q51: When the cross elasticity of demand is
Q52: Cross elasticity is defined as the _.
A)percentage
Q53: When two goods are complementary goods,as the
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A)the percentage change in
Q55: If income elasticity for a good or
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