If the price of gasoline increases and the price of food remains the same, then real income measured in terms of
A) gasoline increases.
B) gasoline decreases.
C) food increases.
D) food decreases.
A
Economics
You might also like to view...
Other things being equal, demand is more elastic if
A) the good is less expensive the good. B) the time period for adjustment is shorter. C) a family spends a larger percentage of its budget on the good. D) the good is more unique.
Economics
Suppose 180,000 people are employed, 20,000 people are unemployed, the working-age population is 250,000, and 50,000 people are not in the labor force. Calculate the unemployment rate
What will be an ideal response?
Economics