Factors affecting the price elasticity of demand include all of these EXCEPT:
a. percentage of the consumer's budget
b. the availability and closeness of substitutes
c. positioning as income inferior
d. time period of adjustment
e. all of the above affect the price elasticity of demand
c
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A monetarist economist believes that if the economy was left alone, it would rarely operate at full employment
Indicate whether the statement is true or false
Refer to the above figure. If real Gross Domestic Product? (GDP) is? $6 trillion, then unplanned business inventories will
A. fall.
B. rise.
C. be zero.
D. be equal to planned inventories.
Which of the following statements best completes the following statement: "Over the past 40 years, the percentage(s) of assets for all financial intermediaries…"?
A. controlled by banks has decreased while the percentage for mutual funds has increased. B. controlled by insurance companies and mutual funds has decreased and the percentage controlled by banks has increased. C. controlled by banks has decreased as has the percentage for mutual funds while insurance companies have increased their percentage. D. controlled by banks has increased while the percentage for mutual funds has decreased.
Natural resources:
A. are physical structures that sit on the earth, improving it and making it more productive. B. are production inputs that come from the earth. C. are natural talents people are born with that make them productive. D. None of these is true.