Generally, expenses on a truck are a large part of a consumer's budget, so the demand for trucks is more likely to be
A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly elastic.
Answer: A
Economics
You might also like to view...
Explain some important situations where direct controls have a clear advantage over taxes
Economics
The crowding-in effect results from the ______________ on aggregate demand.
Fill in the blank(s) with the appropriate word(s).
Economics
If we were on Lorenz curve M, the top income quintile receives about _____% of income.
A. 24
B. 40
C. 58
D. 80
Economics
The level of income below which the federal government classifies a family as poor is called the:
A. median income threshold. B. poverty threshold. C. absolute measure of poverty. D. relative measure of poverty.
Economics