Elasticity - goods 名字

Question 1

1. the elasticity charteristics of an inferior goods are….

Answer 1

YED < 0

Question 2

2. the elasticity charteristics of a luxury goods are….

Answer 2

YED > 1,

|PED| > 1

Question 3

3. the elasticity charteristics of a necessity good are….

Answer 3

|PED| < 1

0 < YED < 1

Question 4

4. Veblen goods are

A. luxury goods

B. inferior goods

Answer 4

A, Veblen goods are luxuries

Question 5

5. Giffen goods are

A. luxury goods

B. inferior

Answer 5

Giffen goods are inferior

Question 6

6. the elasticity charteristics of a normal good are

Answer 6

YED > 0

Question 7

if a good’s demand curve is upward sloping, it might be….. good

Answer 7

Veblen or Giffen

Question 8

8. True of false

Giffen good is an extremly infeior good

Answer 8

a c (when price ↑ ，IE > SE)