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Flashcard 150903012
Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
The sensitivity of
[...]
to change in income is termed income elasticity.
Answer
quantity demanded (or "demand" seems to be right term as it is an input other than price)
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The sensitivity of
quantity demanded
to change in income is termed income elasticity.
Original toplevel document (pdf)
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