The income elasticity of demand of normal goods is
...The income elasticity of demand of normal goods is
Negative
Positive
Zero
Fixed
Correct answer is B
A positive income elasticity of demand is associated with normal goods; an increase in income will lead to a rise in demand.
The movement of curve I to ll suggests ...
The joint ventures operating in the Nigerian oil industry are between ...
The reduction in the value of a country's currency of other nations is known as ...
A rising short-run average cost is a result of ...
The dependency ratio of a country is the ...
Which of the following is an advantage of localization of industry? ...
In recent years, Nigeria's balance of payments has continued to register a deficit due to i. ...
Which of the following measures can lead to an increase in exports? ...