Those goods having a calculated income elasticity that is negative are called:
a. producers' goods
b. durable goods
c. inferior goods
d. nondurable goods
e. none of the above
c
Economics
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The Kennedy Tax Cut, enacted in 1964 after his death, was the first supply-side tax cut used in U.S. history. Its intent was to stimulate the economy by reducing tax rates in order to do what?
(a) Reduce supply (b) Increase production, employment and disposable income (c) Increase government spending (d) Increase the money supply
Economics
Why is time such an important determinant in the elasticity of supply? Is time also important in determining price elasticity of demand? Explain
What will be an ideal response?
Economics