You would expect the price elasticity of demand for transportation generally to be:
A. less than price elasticity of the demand for bus tickets.
B. the same as price elasticity of the demand for bus tickets.
C. greater than price elasticity of the demand for bus tickets.
D. greater than price elasticity of the demand for bus tickets when bus tickets are expensive, but less than price elasticity of the demand for bus tickets when the prices of bus tickets fall.
Answer: A
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In 2002, the United States imposed restrictions on the importation of steel into the United States. The open-economy macroeconomic model shows that such a policy would
a. lower the real exchange rate and increase net exports. b. lower the real exchange rate and have no effect on net exports. c. raise the real exchange rate and decrease net exports. d. raise the real exchange rate and have no effect on net exports.
If the economy is booming, which of the following would most likely happen?
a. The sale of durable goods will remain constant. b. Investment expenditures will remain constant. c. The sale of nondurable goods will soar. d. Investment expenditures will soar.
Taylor has the following assets and liabilities:Two cars$15,000House$400,000Mortgage$300,000Cash$1,000Car loans$5,000Checking account balance$3,000Credit card balance$3,000What is the value of Taylor's liabilities?
A. $308,000 B. $311,000 C. $300,000 D. $303,000
Which industry was first covered by a free trade agreement between Canada and the United States?
What will be an ideal response?