Income elasticity of demand - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2015

The income elasticity of demand of normal goods is

A. Negative
B. Positive
C. Zero
D. Fixed

Question 3:

• JAMB 1987

For normal goods the income elasticity of demand is?

A. Positive
B. Negative
C. Zero
D. Infinite

Question 4:

• JAMB 1997

If the percentage change in the income of the consumers of an industrial product is less than the resulting percentage change in the quantity demanded of the product, then the income elasticity of demand for the product is?

A. Less than one
B. Equal to one
C. Greater than one
D. Equal to zero

Question 5:

• JAMB 1999

In the table, the income elasticity of clothing is

A. 0.5
B. 2.0
C. 2.5
D. 5.0.l