Pearson Access X Econ 1001 Final Exam Spring 20 x Q Texas State Economics Chapter x G is 1.64 normal good or inferior g x + X > C A mylab.pearson.com/Student/PlayerTest.aspx?testId=249366737 Economics 1001 - Section 5 - Online - Speicher Kyla Rose 05/11/23 2:25 PM E Test: Econ 1001 Final Exam Spring 2023 Question 12 of 35 This test: 200 point(s) possible This question: 6 point(s) possible Submit test Question list K Suppose income increases by 25 percent and, as a result, the quantity of a particular brand of automobile demanded (holding the price for this particular automobile constant) increases by 41 percent. Question 9 The income elasticity of demand for this brand of car is 1.64 . (Enter your response rounded to two decimal places and include a minus sign if appropriate.) This particular brand of automobile is a(n) good. Question 10 In another example, suppose market research shows that a particular brand of truck is a normal good and a necessity. If so, then the income elasticity of demand for this truck is O Question 11 O A. positive. O B. zero O Question 12 O C. greater than 1. O D. less than 1 but greater than 0. O E. negative. O Question 13 O Question 14 Next OM E O Q C C O May 11 1:25 1 9