# 3 all of these options 1 2 question 20 4 4 pts which

• 15
• 100% (5) 5 out of 5 people found this document helpful

This preview shows page 11 - 15 out of 15 pages.

(3) all of these options (1) (2)
Question 20 4 / 4 pts Which of the following statements is false ?
Question 21 4 / 4 pts If the percentage change in quantity demanded of a good is equal to the percentage change in buyer's income, then the good is said to be
Question 22 4 / 4 pts If for good Z income elasticity is less than 1 but greater than zero, then demand for good Z is income __________, and good Z is a(n) __________ good.
Question 23 4 / 4 pts Income elasticity of demand for good A is -0.22. Good A is income __________ and is a(n) __________ good. elastic; inferior inelastic; normal unit elastic; normal elastic; normal
inelastic; inferior Question 24 4 / 4 pts If Cassandra bought 12 blouses last year when her income was \$46,000 and she buys 14 blouses this year when her income is \$52,000, then her income elasticity of demand for blouses is approximately
Question 25 4 / 4 pts If the percentage change in quantity demanded of a good is less than the percentage change in buyer's income, then the good is said to be
price inelastic. income unit elastic.