Which of the following statements illustrates income elasticity of demand ?
A. A rise in Annie's income by 5 percent decreases supply of canned fruits by 6 percent.
B. A salary cut and no other changes has resulted in Mary buying less fast food.
C. Poor economic conditions are resulting in higher unemployment and lower aggregate demand.
D. A 2 percent fall in the price of peanuts increases Ralph's demand for almonds by 5 percent.
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