Which of the following goods has a low, but positive, income elasticity of demand?
A) furniture.
B) new cars.
C) health insurance.
D) all of the above
E) none of the above
C
Economics
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The market structure that is characterized by a small number of large firms that have some market power is called:
A) perfect competition. B) monopolistic competition. C) oligopoly. D) monopoly.
Economics
Assume the demand for money curve is stationary and the Fed increases the money supply. The result is that people:
a. increase the supply of bonds, thus driving up the interest rate. b. increase the supply of bonds, thus driving down the interest rate. c. increase the demand for bonds, thus driving up the interest rate. d. increase the demand for bonds, thus driving down the interest rate.
Economics