As income increases consumption also increases, but:

Related MCQs

• The proportion between total income and total consumption is called:
• The proportion between incremental income and incremental consumption is called:
• Income elasticity is positive, but less than unity in the case of:
• Production and consumption takes place simultaneously in the case of
• Value of output minus intermediate consumption is:
• Consumption expenditure directly varies with:
• Consumption of capital good in the process of production is called as:
• Other things remaining the same, the quantity of a product demanded increases with ------------ in price.
• Income elasticity of demand for inferior good is:
• In the case of luxury goods, the income elasticity of demand will be: