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Basic Question 1 of 15
The income elasticity of demand for an inferior good is ______.
B. less than zero
C. greater than zero
A. equal to zero
B. less than zero
C. greater than zero
User Contributed Comments 2
| User | Comment |
|---|---|
| nabilhjeily | what about the absolute value guys |
| gill15 | Thats only for Price Elasticity - Not Income Elasticity, Cross elasticity |
I used your notes and passed ... highly recommended!
Lauren
Learning Outcome Statements
compare substitution and income effects;
contrast normal goods with inferior goods;
CFA® 2024 Level I Curriculum, Volume 2, Module 8.