Question 17 of 20

0.0/ 5.0 Points
Suppose that the income elasticity of demand for new clothes is positive. Other things being equal, which of the following statements is correct?

A. New clothes are a normal good.

B. There exists a positive relationship between income and the demand for new clothes.

C. The quantity demanded of new clothes decreases as a consumer's income declines.

D. all of the above

1 answer

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