Apple, the consumer electronics giant, on Tuesday rolled out new versions of its popular iPod music player. CEO Steve Jobs also unveiled cheaper models of its Touch music player, a touchscreen-only device
An 8-gigabyte version now costs $230, down from $300. A 32-gigabyte model costs $400, down from $500. Calculate the price elasticity of demand for a 32 gigabyte Touch player if the quantity demanded increases from 850,000 to 950,000 the month after the price decrease. A) 0.5
B) 1.5
C) 1
D) 0.75
A
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Both the Latin American countries and the sub-Saharan countries have poor economic growth records due to
A) climate. B) geography. C) colonization. D) arbitrary governance. E) indifference from the World Bank.
The level of technology, the rate of interest, expectations of future economic growth, and the rate of capacity utilization all determine
a. life cycle wealth b. investment c. permanent income d. transitory income e. dissaving
A theory is a deliberate simplification or abstraction of factual relationships.
Answer the following statement true (T) or false (F)
You own a house in Malibu, CA. During the recent downturn in the house values in the area your house's value declined by $100,000. If you do not sell your home during this period, your economic income ________ and your taxable income ________.
A. fell; was unchanged B. was unchanged; fell C. fell; fell D. was unchanged; was unchanged