Her father is Robert Ellis Silberstein (Jewish). Her mother is Diana Ross (African-American).
If the cross price elasticity is positive, then we call such goods Substitutes (example: pizza and burgers -- you usually consume either or). The income elasticity of demand measures the change in the quantity demanded of some good, when the income changes, holding everything else constant.For example you can measure what happens to the demand for expensive red wine when income increases.f the cross price elasticity is positive, then we call such goods Substitutes (example: pizza and burgers -- you usually consume either or). The income elasticity of demand measures the change in the quantity demanded of some good, when the income changes, holding everything else constant.
Share this set. IS-LM Model. A model of aggregate demand that shows what determines aggregate income for a given price level by analyzing the interaction between the goods market and the money market. IS Curve. The negative relationship between the interest rate and the level of income that arises in the market for goods and services. Each point represents equilibrium in the goods market and it illustrates how the equilibrium level of income depends not he interest rate.