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
Related Mcqs:
- For an inferior good ?
A. The price elasticity of demand is negative: the income elasticity of demand is negative
B. The price elasticity of demand is positive the income elasticity of demand is negative
C. The price elasticity of demand is negative the income elasticity of demand is positive
D. The price elasticity of demand is positive the income elasticity of demand is positive - If a product is an inferior good ?
A. Demand is inversely related to income
B. Demand in inversely related to price
C. Demand is directly related to price
D. Demand is inversely related to the price of substitutes - An inferior good is one for which an increase in income causes a(n) ?
A. decrease in supply
B. increase in demand
C. increase in supply
D. decrease in demand - During the Great Depression workers in DCs who took inferior jobs as a result of being laid off were known as ?
A. disguised unemployed
B. cyclical unemployed
C. seasonally unemployed
D. voluntarily unemployed - Positive cross elasticities suggest that goods are ____ and negative cross-elasticities that goods are ?
A. substitutes inferior
B. normal, complements
C. substitutes complements
D. normal, inferior - If the cross-price elasticity of demand between two goods is negative, then the two goods are ?
A. normal goods
B. unrelated goods
C. Substitutes.
D. Complements - If your income doubles and the prices of the goods you buy double then your demand for these goods will likely?
A. increase
B. not change
C. decrease
D. shift - The arrangement where goods imported from trading partners in the developing world are subject to lower tariff rates than goods from other countries is referred to as ?
A. normal trade relation status
B. most favored nation status
C. offshore assembly provisions
D. Generalized System of Preferences - In certain industries Japanese employers hesitate to lay off workers Therefore they sometimes have excess supplies of goods that they cannot sell on the home market without lowering prices. To hold down losses they sell goods in overseas markets at prices well beneath those in japan This practice is best referred to as ?
A. Orderly marketing
B. trigger pricing
C. domestic content pricing
D. dumping - _______ states that as real GNP per capita rises, people demand relatively more social goods and relatively fewer private goods?
A. incomes policy
B. Moral hazard
C. Wagner’s law
D. Fiscal policy
