4154904
Frage 1
Frage
A normal good ALWAYS has an elastic YED.
Antworten
- True
- False
Frage 2
Frage
Since inferior goods rise in demand as the income of people falls, it has a negative YED.
Antworten
- True
- False
Frage 3
Frage
Luxury goods such as sports cars can be inelastic.
Antworten
- True
- False
Frage 4
Frage
Price elasticity of demand can be possitive.
Antworten
- True
- False
Frage 5
Frage
If the supply curve goes through the origin it is.
Antworten
-
elastic
-
inelastic
-
unit inelastic
-
unit elastic
Frage 6
Frage
If a change in price takes place, which of the following would take the longest to respond to said change.
Antworten
-
toy manufacturers
-
airlines
-
corn farmers without inventory
-
corn farmers with inventory
Frage 7
Frage
if a good has an income elasticity of 0.45, and the average income fell 4 percent,
what was the percentage original change .
Antworten
-
.0166
-
.018
-
-.018
-
-.11
Frage 8
Frage
Two goods substitute each other if :
Antworten
-
xed is zero
-
xed is one
-
xed is negative
-
xed is possitive
Frage 9
Frage
If two goods are completely unrelated to each other.
Antworten
-
xed will be zero
-
xed will be inelastic
-
xed will be elastic
-
xed will be undefined
Frage 10
Frage
If two goods satisfy the same need they are [blank_start]complementary[blank_end], will their xed be possitive or negative?
Antworten
-
complementary
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