For most goods, the sign of income elasticity is positive-an increase in income leads to an increase in quantity demanded. Goods for which this is the case are termed [...]goods.
For most goods, the sign of income elasticity is positive-an increase in income leads to an increase in quantity demanded. Goods for which this is the case are termed [...]goods.
For most goods, the sign of income elasticity is positive-an increase in income leads to an increase in quantity demanded. Goods for which this is the case are termed [...]goods.
Answer
normal
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Open it For most goods, the sign of income elasticity is positive-an increase in income leads to an increase in quantity demanded. Goods for which this is the case are termed normal goods.
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p35
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