In Canada, there are no preferences given to Canadian tv networks and programming over U.S. networks and programming

A typical consumer spends 30% of income on housing and housing is a necessity for consumers (the income elasticity for housing is 0 < ?H < 1 ). What are the maximum and minimum values for the income elasticity of all other goods, ?O?

What will be an ideal response?

Use the following information to answer this question. If nominal GDP rises from $100 trillion to $120 trillion, while the GDP deflator rises from 2.0 to 2.2, the percentage change in real GDP is approximately equal to

A) -10%. B) 10%. C) 20%. D) 9.1%. E) 0%.