Suppose you have surveyed a few industries and obtained information about the income elasticity of demand for their products
If you expect that the economy is headed for a long recession, you would advise people to look for jobs in an industry with
A) a "low" negative income elasticity coefficient such as -0.2.
B) a high positive income elasticity coefficient such as 5.
C) a low positive income elasticity coefficient such as 0.8.
D) a "high" negative income elasticity coefficient such as -4.
D
Economics
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Use the above table. The MPC is
A) 0.09. B) 0.20. C) 0.80. D) 0.91.
Economics
Ceteris paribus, which of the following will most likely cause an inward shift of the production possibilities curve?
A.) A decrease in the size of the labor force. B.) An increase in population. C.) An increase in knowledge. D.) An improvement in technology.
Economics