Negative Income Elasticity MCQs 1576 to 1580

Negative Income Elasticity MCQs 1576 to 1580 are here. You can practice these MCQs frequently to prepare for your exams. Stay Connected for more.

Negative Income Elasticity MCQs

  1. es for a positively sloped straight-line supply curve that intersects the price axis is
    • Equal to zero
    • Equal to 1
    • Greater than 1
    • Constant
  2. If the amount of a commodity purchased remains unchanged when the price of another commodity changes, the cross elasticity of demand between them is
    • Negative
    • Positive
    • Zero
    • 1
  3. If the amounts of two commodities purchased both increases or decrease when the price of one changes, the cross elasticity of demand between them is
    • Negative
    • Positive
    • Zero
    • 1
  4. If the income elasticity of demand is greater than 1, the commodity is
    • A necessity
    • A luxury
    • An inferior good
    • A nonrelated good
  5. A negative income elasticity of demand for a commodity indicates that as income falls, the amount of the commodity purchased
    • Rises
    • Falls
    • Remains unchanged
    • Any of the above
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Quiz with Answers

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Economics 1576-1580

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es for a positively sloped straight-line supply curve that intersects the price axis is

2 / 5

If the amount of a commodity purchased remains unchanged when the price of another commodity changes, the cross elasticity of demand between them is

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If the amounts of two commodities purchased both increases or decrease when the price of one changes, the cross elasticity of demand between them is

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If the income elasticity of demand is greater than 1, the commodity is

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