If a 4% increase in income causes a 2% increase in the amount of books demanded, then
A: The income elasticity of demand for books is negative
B: Books are a necessity and a normal good
C: Books are luxury goods
D: Books are inferior goods
A: The income elasticity of demand for books is negative
B: Books are a necessity and a normal good
C: Books are luxury goods
D: Books are inferior goods
举一反三
- For Susie, a 7 percent increase in income results in a 12 percent increase in the quantity demanded of pizza. For Susie, the income elasticity of demand for pizza is_________. A: negative, and pizza is a inferior good B: positive, and pizza is a normal good C: positive, and pizza is an inferior good D: negative, and pizza is an normal good
- The income elasticity of a commodity is -2, then the commodity is ( <br/>) A: low-end goods B: General normal goods C: Luxury goods D: Giffen goods
- 【单选题】Andi uses all of her income to purchase books and games. At any two points A and B on Andi’s budget constraint, A. Andi is spending all of her income on books and games. B. Andi is spending one half of her income on books and the other half of her income on games. C. the price of books relative to the price of games is different. D. All of the above are correct.
- For Susie, a 7 percent increase in income results in a 12 percent increase in the quantity demanded of pizza. For Susie, the income elasticity of demand for pizza is_________.
- The income elasticity of luxury goods is generally