The responsiveness of demand to changes in income holding the good's relative price constant is
A) price elasticity of demand.
B) income elasticity of demand.
C) elasticity of supply.
D) cross price elasticity of demand.
B
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Which of the following would be entered as a credit in the financial account of the United States?
a. Purchase of U.S. Treasury bonds by Americans b. Purchase of U.S. Treasury bonds by foreigners c. Purchase of U.S. made cars by foreigners d. Income earned by the U.S. from tourism e. Purchase of foreign stocks by U.S. investors
Major macroeconomic issues include differences across countries in all of the following EXCEPT:
A. economic growth rates. B. inflation rates. C. infant mortality rates. D. unemployment rates.
It is appropriate to use the supply-and-demand model in which of the following markets?
A) beer market B) car market C) wheat market D) market for breakfast cereal
Explain the issues involved with the Fed acting as a lender of Last Resort (LLR)
What will be an ideal response?