Question
If the Income elasticity for a product is -0.50 or (negative .50) , then we can say that the typical consumer will consume more of
If the Income elasticity for a product is-0.50 or (negative .50), then we can say that the typical consumer will consume more of this good as their income goes up.
True
False
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Macroeconomics Principles and Applications
Authors: Robert E. Hall, Marc Lieberman
6th edition
1111822352, 1111822354, 9781133708742 , 978-1111822354
