The relationship between a change in consumer income and a resulting change in demand for a good is
a. demand elasticity.
b. income elasticity of demand.
c. cross elasticity of income demand.
d. supply elasticity.
b
Economics
You might also like to view...
The price elasticity of demand is calculated as:
A) the change in price divided by the change in quantity demanded. B) the change in quantity demanded divided by the change in price. C) the percentage change in price divided by the percentage change in quantity demanded. D) the percentage change in quantity demanded divided by the percentage change in price.
Economics
Suppose exports and imports both rise by $1. GDP
A) rises by $2. B) rises by $1. C) remains unchanged. D) falls by $1. E) falls by $2.
Economics