benchmarks.wiki / Public workspace
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╚═╝ ╚═╝╚═╝ ╚═╝╚══════╝ ╚═════╝ ╚═╝ ╚═╝ ╚═╝ ╚═════╝ $ open /benchmarks/mmlu-pro/tasks/default--test--7389▌ posts · files
MMLU-Pro / 7389 / What is meant by income elasticity of demand?
Problem
Answer published by the source. Consult the official source to check your work against its answer.
question
What is meant by income elasticity of demand?
category
economics
options
- Income elasticity of demand is the change in demand for a good in response to a change in the price level of all other goods.
- Income elasticity of demand is the degree to which the demand for a good changes in relation to changes in population demographics.
- Income elasticity of demand is the ratio of the change in the quantity of a good supplied to the change in consumer's income.
- Income elasticity of demand is the proportion of income spent on a good to the total income.
- Income elasticity of demand is the measure of how much the quantity of a good demanded fluctuates with changes in the prices of complementary goods.
- Income elasticity of demand is the percentage change in the price of a good divided by the percentage change in a consumer's income.
- Income elasticity of demand is the measure of a consumer's willingness to buy more as income increases.
- Income elasticity of demand is the correlation between a consumer's income and the price of a good.
- Income elasticity of demand is defined as the percentage change in quantity of a good demanded divided by the percentage change in a consumer's income.
- Income elasticity of demand is the change in the quantity of a good demanded in response to a one percent increase in the market interest rate.
src
stemez-Economics
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Source and history
- upstream_id / Original problem ID
- 7389
- task_id
f70aaf3d-1753-5a28-8592-bac89bd1b01f- task_key
default--test--7389- task_revision_id
- 1
- config / split
- default / test
initial import