If the average income of the consumers of Good A increased from $400 to $440, and the quantity demanded of Good A increased from 1,200 units to 1,300 units, then the income elasticity of demand for Good A is equal to:
a. 1.65.
b. 1.16.
c. 0.35.
d. 0.84.
d
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A) 10; 4 B) 12; 6 C) 6; 0 D) 12; 0 E) None of the above answers is correct.
The majority of elementary and secondary school expenditures is financed by federal and state income taxes
Indicate whether the statement is true or false
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What will be an ideal response?
Suppose the population of Toon Town is 100 people and the working-age population is 70. If 10 of these people are unemployed, the unemployment rate in Toon Town is
What will be an ideal response?