In reality, overall growth and income for the poorest are:
A. uncorrelated.
B. highly negatively correlated, but not perfectly.
C. slightly positively correlated.
D. highly positively correlated, but not perfectly.
Answer: D
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A prolonged recession in Europe should decrease the
A. supply of U.S. dollars. B. demand for U.S. dollars. C. supply of U.S. goods and services. D. demand by Americans for euros.
Pizza joints often offer substantially lower prices for pizza picked up at the shop than for delivered pizzas even though they charge a delivery fee. This may be an attempt at
A) perfect price discrimination. B) group price discrimination. C) quantity discrimination. D) second-degree price discrimination.
In recent years, established U.S. stock exchanges have faced significant competition from
A. new start-ups. B. small, regional stock markets. C. foreign stock markets. D. people buying and selling stocks online
Suppose the quantity demand of a product increases from 32 units to 40 units and income increases from €20,000 to €22,000. What is the Income Elasticity of Demand?
a) 0.4. b) -0.4. c) - 2.5. d) 2.5.