If an individual's housing purchases are always a constant fraction of income, then the income elasticity of demand for housing is
a. greater than one.
b. equal to one.
c. less than one.
d. Cannot be determined from the available information.
b
Economics
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Refer to the scenario above. What is the net present value of the investment?
A) -$7,112.36 B) -$5,365.10 C) -$475.31 D) $9,524.19
Economics
Which of the following Nobel laureates became known for the study of asymmetric information?
A) Michael Spence B) Ronald Coase C) George Ackerlof D) Gary Becker
Economics
Say's law promises that each and every firm in the economy will be able to sell all of the particular output it produces
a. True b. False
Economics
Implicit costs will be zero in the long run
Indicate whether the statement is true or false
Economics