For which of the following would the income effect of a price change be greatest?
a. ballpoint pens
b. air travel to Australia
c. chewing gum
d. haircuts
e. college textbooks
B
Economics
You might also like to view...
Futures contracts are marked-to-market
A) every day. B) every week. C) every month. D) every quarter.
Economics
Advocates of the public-choice view argue that elected officials
a. will always respond to inflation with expansionary policies but will respond to unemployment with restrictive policies. b. will actively respond to inflation with restrictive policies but are reluctant to respond to unemployment with expansionary policies. c. will always respond to both inflation and unemployment with expansionary policies. d. None of the above
Economics