If a 6 percent increase in income leads to a 4 percent increase in quantity demanded for audio books, the income elasticity of demand is
A) -0.67. B) 0.67. C) 1.5. D) 2.
B
Economics
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A President who favors the use of government spending and taxes as tools to offset instability in the economy is likely to have advisers who are oriented toward
A) Keynesian economics. B) Monetarist economics. C) rational expectations. D) the policies advocated by Milton Friedman.
Economics
The national debt is a larger percentage of GDP now than at any time since 1900
Indicate whether the statement is true or false
Economics
You are the manager of a firm that sells its product in a competitive market at a price of $60. Your firm's cost function is C = 50 + 3Q2. Your firm's maximum profits are:
A. 450. B. 250. C. 400. D. 500.
Economics
What is utility and what are its characteristics?
What will be an ideal response?
Economics