The inelastic demand for agricultural products means that a(n):
A. Decrease in price will increase farm incomes
B. Increase in price will decrease farm incomes
C. Decrease in price will decrease farm incomes
D. Increase in price will not change farm incomes
C. Decrease in price will decrease farm incomes
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Refer to the scenario above. What is the difference between the future value of John's deposit and Wendy's deposit after one year?
A) $10 B) $40 C) $60 D) $100
The propensity ?0 + ?1+ … + ?k is sometimes called the:?
A. ?short-run elasticity, which measures the percentage increase in a dependent variable after k quarters given a permanent 1% increase in the k independent variables. B. ?long-run elasticity, which measures the percentage increase in a dependent variable after k quarters given a permanent 1% increase in the k independent variables. C. ?short-run elasticity, which measures the percentage decrease in a dependent variable after k quarters given a permanent 1% decrease in the k independent variables. D. ??long-run elasticity, which measures the percentage decrease in a dependent variable after k quarters given a permanent 1% decrease in the k independent variables.