Inferior goods have _________ and luxury goods have _________? – McqOptions

MCQOPTIONS

1.	Inferior goods have _________ and luxury goods have _________?
A.	negative income elasticity income elasticity greater than 1
B.	income elasticity greater than 1, negative income elasticities
C.	Positive income elasticities, negative income elasticities
D.	None of the above
Answer» B. income elasticity greater than 1, negative income elasticities

Discussion

No Comment Found

Related MCQs

Which of the following will NOT cause a shift in the demand curve for compact discs ?
Which of the following would increase aggregate demand ?
Which of the following would decease aggregate demand ?
Which of the following is consistent with the law of supply ?
Which best describes a supply curve ?
Which best describes a demand curve ?
When the market operates without interference, price increases will distribute what is available to those who are willing and able to pay the most. This process is known as ?
When the decrease in the price of one good causes the demand for another good to decrease, the goods are_________?
When excess demand occurs in an unregulated market, there is a tendency for ?
What effect is working when the price of a good falls and consumers tend to buy it instead of other goods ?