Which of the following is likely to have the most price elastic demand?
a. ice cream
b. frozen yogurt
c. vanilla ice cream
d. Häagen-Dazs® vanilla bean ice cream
d
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Many financial analysts use GDP as a measure of the economy's performance. However, GDP has several shortcomings in terms of measuring economic well-being
State at least three such shortcomings and explain how each affects the validity of GDP as a measure of economic well-being.
Funds are channeled from savers to borrowers directly through ________ and indirectly through ________
A) financial markets; financial intermediaries B) financial intermediaries; financial markets C) main banks; branches D) brokers;' agents
Suppose in the market for labor that the labor supply curve is perfectly inelastic. This would mean that the supply curve is vertical. Furthermore, suppose that demand is normal and downward sloping. Your textbook has explained that unemployment taxes are paid entirely by the employer (demanders). Who actually pays the tax in the scenario described above?
What will be an ideal response?
A price index shows
A) the current cost of a basket of goods. B) the relative price of necessities. C) the price of goods in the future. D) the cost of today's goods expressed in terms of the cost of goods in a base year.