Last year, after Shirley received a 14 percent pay increase, she increased the quantity of pork chops she purchased by 6 percent. Hence, her income elasticity of demand for pork chops equals

The Social Security program is ________ in that it redistributes income from ________

A) progressive; low earners to high earners B) regressive; low earners to high earners C) progressive; high earners to low earners D) regressive; high earners to low earners

Suppose Starbucks currently charges $3.25 per cup for its latte

If Starbucks lowers the price to $3.00 per cup, based on the demand curve in the figure above, its total revenue will ________ because the demand for Starbucks latte is ________ over this price range. A) increase; elastic B) decrease; elastic C) increase; inelastic D) increase; unit elastic E) not change; unit elastic