Suppose income increases by 25 percent and, as a result, the quantity of a particular brand of automobile demanded (holding the price for this particular automobile constant) decreasesdecreases by 37 percent. The income elasticity of demand for this brand of car is. This particular brand of automobile is a(n) good. In another example, suppose market research shows that a particular brand of truck is a normal good and a luxury. If so, then the income elasticity of demand for this truck is:.
A. Less than 1 but greater than 0.
B. Negative.
C. Greater than 1.
D. Positive.
E. Zero.

-1.48

Inferior Good, as their quantity demanded decreases as the income of the consumers increases.

C. Greater than 1

As to be a normal good, the income elasticity should be positive. Then, when betwene 0 and 1 this is a necessary good used for the consumer to met their normal living standard

While above 1, menas their expense is more than proportional than income thus, it increases as the income increases more than proportionally that represent a luxury good.

Explanation:

To solve for the income elasticity we divide the variation in quantity over the variation in price:

-37/25 = -1.48

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

none

explanation:

we're are the selections to pick from?