The ________ the portion of your income spent on a good, the ________ is your demand for the good
A) larger; more income elastic
B) larger; more price elastic
C) smaller; less price elastic
D) smaller; more income elastic
C
Economics
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Dave, a U.S. citizen buys a bicycle manufactured in China. Dave's purchase is
a. both a U.S. and Chinese export. b. both a U.S. and Chinese import. c. a U.S. import and a Chinese export. d. a U.S. export and a Chinese import.
Economics
Which of the following is an example of a barrier to entry?
A. A firm is open for business only at certain hours of the day, and has its doors locked at other times. B. The government grants licenses to taxicab drivers, without which it is illegal to operate a taxicab. C. A newspaper sells advertising space to businesses. D. A firm is lacking a website.
Economics