Topical Terminology > Unit Elastic
1 Definition
Unit Elastic
For Unit Elastic we have a term and definition in International Economics.
Unit Elastic (International Economics) 
Having an elasticity equal to one. For a price elasticity of demand, this means that expenditure remains constant as price changes. For an income elasticity it means that expenditure share is constant. Homothetic preferences imply unit income elasticities. Contrasts with elastic and inelastic.
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