For goods on which a relatively small portion of income is expended, _____
a. income effects will be small relative to substitution effects
b. income effects will be large relative to substitution effects
c. income effects will be about the same as substitution effects
d. there will be no income effects.
a
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International dependence theories distinguish between two groups of countries known as
a. rich-poor. b. developed-developing. c. center-periphery. d. independent-dependent.
In the macroeconomic long run,
What will be an ideal response?
The dominant strategy for player 2 in the following game is:Player 1Player 2??t1t2t3?S14,103,01,3?S20,02,1010,3
A. t3. B. t1. C. t1 and t2. D. None of the answers is correct.
Which of the following are considered ad valorem taxes?
A. taxes based on the amount of debt that the government must repay B. taxes assessed by charging a flat amount per unit purchased C. taxes assessed by charging a rate equal to a percentage of an item's price D. taxes based on the amount of spending the government will undertake