The income elasticity of luxury goods is generally
举一反三
- The income elasticity of a commodity is -2, then the commodity is ( <br/>) A: low-end goods B: General normal goods C: Luxury goods D: Giffen goods
- If a 4% increase in income causes a 2% increase in the amount of books demanded, then A: The income elasticity of demand for books is negative B: Books are a necessity and a normal good C: Books are luxury goods D: Books are inferior goods
- Marshall-Lerner condition is that the payments deficit will be improved as a result of currency depreciation only if_______ 。( ) A: the sum of elasticity of demand for goods import and that for goods export equals one. B: the sum of elasticity of demand for goods import and that for goods export is less than one. C: the sum of elasticity of demand for goods import and that for goods export is larger than one. D: the sum of elasticity of demand for goods import is greater than that for goods export.
- Tom always decides to spend one third of his income on clothes. What is the income elasticity of his demand for clothes?
- For Susie, a 7 percent increase in income results in a 12 percent increase in the quantity demanded of pizza. For Susie, the income elasticity of demand for pizza is_________.