Income elasticity of demand for normal goods is always

Income elasticity of demand for normal goods is always

A).  1

B).  Negative

C).  More than 1

D).  Positive

---

Join Telegram Group

Answer This Question
Name:
Email:
Answer :
Sum of (3+4)
Submit:

Other Questions

1. In case of inferior goods, the income elasticity is

2. Question 5:How do the following factors contribute to the environmental crisis in India? What problem do they pose for the government?(i) Rising population(ii) Air pollution(iii) Water contamination(iv) Affluent consumption standards(v) Illiteracy(vi) Industrialization(vii) Urbanization(viii)...

3. If price of an article decreases from Rs 600 to Rs 500, when quantity demanded increases from 10000 units to 12000 units. Find point elasticity of demand?

4. Which of the following is India?s Tax to GDP ratio ?

5. The average product curve are inverse ____ shaped.

6. Dear Money Policy implies:

7. Quality of a commodity that satisfies some human want or need is called

8. As we all know managing inflation has been a very important aspect of the economy in India. Which of the following is/are true about the inflation and its effect on economy ?(A) Lack of inflation (deflation) is not necessarily a thing which is always good.(B) Inflation is an Increase In the general level of prices for goods and services.(C) When inflation goes up, the purchasing power of the money also goes up.

9. Question 17:How does an increase in the number of firms in a market affect the market supply curve?

10. Suppose the total cost of producing commodity X is Rs.125000. Out of this cost, implicit cost is Rs.35000 and normal profit is Rs.25000. What will be the explicit cost of commodity X?