If an increase in income results in a decrease in the quantity demanded of a good, then for that good, the
a. cross-price elasticity of demand is negative.
b. price elasticity of demand is elastic.
c. income elasticity of demand is negative.
d. income elasticity of demand is positive.
c
You might also like to view...
If you wanted to understand how an economy grew without looking at the impact of inflation, you should use ________ to compare different times within the economy
A) real GDP B) nominal GDP C) the CPI D) the GDP deflator
_________ is a thinking and information-gathering process involving a series of decisions
a. Planning b. Acting c. Sequencing d. Brainstorming
Which of the following is accurate concerning WTO membership?
a. No state has ever left the group. b. The organization had 100 members as of 2015. c. The largest members in terms of GDP are Iran and Algeria. d. States are no longer eagerly seeking membership as they had in the past.
Which of the following best illustrates the human capital of a survivor stranded on an island?
a. the fishing poles she has produced b. the invention of a better fishing lure c. the fresh fruit and fish on and around the island d. her previous training in a survival course