Use the above table. The income elasticity of artisan bread is
A. 1.285.
B. 0.780.
C. 8.330.
D. 0.012.
Answer: A
You might also like to view...
When the exchange rate is determined by market forces and an economy is experiencing a net inflow of capital, the economy will tend to
a. run a budget deficit. b. run a trade deficit. c. experience an increase in the supply of money. d. experience a reduction in the supply of money.
Compute the tax rates for the three taxpayers shown in Table 33.1. Then use the table to answer the indicated question.TaxpayerIncome (Dollars)Taxable Income (Dollars)Taxes Paid (Dollars)Effective Tax Rate(Percent)Nominal Tax Rate(Percent)1$200,000$100,000$6,000________%________%2100,00080,0008,000________%________%360,00048,00012,000________%________%In Table 33.1, the nominal tax rate for taxpayer 2 is
A. 8.0 percent. B. 12.5 percent. C. 25.0 percent. D. 10.0 percent.
Lines of credit provided by financial intermediaries:
A. are pre-approved loans that can increase liquidity and lowering transaction costs. B. decrease liquidity for customers but increase income for the intermediary. C. are costly for intermediaries to provide so are only available to large commercial customers. D. require deposits in the intermediary that equal or exceed the amount of the line of credit.
The steeply upward sloping yield curve in the figure above indicates that ________ interest rates are expected to ________ in the future
A) short-term; rise B) short-term; fall moderately C) short-term; remain unchanged D) long-term; fall moderately