The ratio of the percentage change in consumption of a good divided by the percentage change in income (as measured by GDP) is known as the
A) income elasticity of demand.
B) income expansion path.
C) demand elasticity equivalent.
D) trade effectiveness.
A
Economics
You might also like to view...
Reserves demanded varies
a. inversely with both prices and output. b. inversely with prices and directly with output. c. directly with prices and inversely with output. d. directly with both prices and output.
Economics
Dividends
a. are the rates of return on mutual funds. b. are cash payments that companies make to shareholders. c. are the difference between the price and present value per share of a stock. d. are the rates of return on a company's capital stock.
Economics