| 1. | However, MPC and income elasticity of demand tend to increase as wealth increases.
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| 2. | Patterns and changes in sectoral employment drive demand shifts through the income elasticity.
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| 3. | In other words, the income elasticity of demand of food is between 0 and 1.
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| 4. | The income elasticity of the value of statistical life has been estimated at 0.5 to 0.6.
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| 5. | In an economy, health care is a luxury good with an income elasticity-estimated from cross-country data of about 1.1.
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| 6. | It was shown that the manner in which the intergenerational income elasticity is defined, is by design associated with inequality.
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| 7. | A good's Engel curve reflects its income elasticity and indicates whether the good is an inferior, normal, or luxury good.
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| 8. | Income elasticity of demand is not constant with respect to income, and may change sign at different levels of income.
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| 9. | Empirical measures of the income elasticity of demand in North America range from 0.5 to 0.9 ( De Leeuw 1971 ).
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| 10. | In an economy, health care is a luxury good with an income elasticity-estimated from cross-country data of about 1 . 1.
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