For most goods and services the income elasticity of demand is
A) negative.
B) positive.
C) invisible.
D) inverse.

Name: For most goods and services the income elasticity of demand is A) negative. B) positive. C) invisible. D) inverse.
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Question

Quizplus · Accepted Answer

For most goods and services, as incomes rise, the demand for the goods and services will increase, resulting in a positive income elasticity of demand.

For Most Goods and Services the Income Elasticity of Demand