Since 1950, there has been a substantial increase in wheat production. The increase in production has led to a decrease in the price of wheat because of which of the following factors?
A) The absolute value of the price elasticity of demand for wheat is less than 1 and the income elasticity of demand for wheat is greater than 1.
B) The absolute value of the price elasticity of demand for wheat is greater than 1 and wheat is a close substitute for other food products.
C) The income elasticity of demand for wheat is high and wheat is an inferior good.
D) The absolute value of the price elasticity of demand for wheat is less than 1 and the income elasticity of demand for wheat is low.
D
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________ are financial assets that represent partial ownership of a corporation
A) Stocks B) Financial markets C) Bonds D) Certificates of deposit
What information is typically included in a prospectus?
What will be an ideal response?
Historians typically disagree with which of the following contentions from Time on the Cross?
(a) Slavery was profitable for Southerners and consequently resulted in wealth accumulation. (b) Slavery was on the verge of extinction on the eve of the Civil War. (c) Slave owners were moral and treated slaves with kindness and high standards. (d) Slave breeding and sexual exploitation were myths and slave sales rarely broke up slave families.
After Joyce and Larry purchased their first house, they made additional home improvements in response to increases in income. After a while, their income rose so much that they could afford a larger home
Once they realized they would be moving, they reduced the amount of home improvements. Their Engel curve for home improvements on their current home is A) negatively sloped. B) flat. C) positively sloped. D) backward bending.