The income elasticity of demand for food is roughly 1. A consumer's monthly income is $2,000, of which 20 percent is spent on food. If the income of this consumer doubles, the amount she'll spend on food will be:

Refer to Figure 4.2. The game described in the payoff matrix is an example of a(n) ________ game

A) prisoner's dilemma B) pure coordination C) assurance D) battle of the sexes

An increase in the world relative demand for U.S. output causes

A) a short-run real depreciation of the dollar against the euro. B) a long-run real appreciation of the dollar against the euro. C) a long-run real depreciation of the dollar against the euro. D) a short-run real appreciation of the euro against the dollar. E) a long-run real appreciation of the euro against the dollar.