If the income elasticity of a good is negative, we can conclude that the good is
a. an inferior good.
b. a normal good.
c. a luxury good.
d. a necessity.
A
Economics
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Over a business cycle, the quantities of capital, human capital, and entrepreneurial talent
A) change gradually and do not fluctuate much. B) cycle alongside real GDP. C) are completely unpredictable and cannot be forecast. D) cycle more than real GDP. E) are constant and do not change.
Economics
Discuss the concept of the globalization of production.
What will be an ideal response?
Economics