The co-efficient of income elasticity of demand for infer...
The co-efficient of income elasticity of demand for inferior goods is
Positive
Equal to one
Less than one
Negative
Correct answer is D
A negative income elasticity of demand is associated with inferior goods; an increase in income will lead to a fall in the demand and may lead to changes to more luxurious substitutes.
A government treasury bill is a form of debt instrument which falls due for repayment after ...
At what point on the total product curve shown above will marginal product be negative? ...
Scarcity in economics arises because ...
Which of the following is used by the Central Bank of Nigeria to control inflation? ...
The money market is a financial market that specializes in the provision of ...
The diagram above represent ...
A country whose economy is buoyant is likely to have ...