Rank the price elasticities of the following goods in descending order (from highest to lowest)
a. chewing gum, sport shirt, 4-bedroom house
b. 4-bedroom house, chewing gum, sport shirt
c. chewing gum, 4-bedroom house, sport shirt
d. 4-bedroom house, sport shirt, chewing gum
e. sport shirt, chewing gum, 4-bedroom house
D
Economics
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The peak phase of the business cycle represents
A) a temporary maximum output level of Gross Domestic Product (GDP). B) an increase in foreign investment. C) a labor surplus. D) falling prices.
Economics
The money income of households consists of all the following, except:
A. Wages B. Profits C. Interest D. Revenues
Economics