Question #49177
The income elasticity is +2 and income increases by 20% sales were 5000 units, what will they be now ?
Options:
Answer:
The income elasticity is +2 and income increases by 20% sales were 5000 units, what will they be now 7000.
Question Screenshot
Economics Related Questions
-
Q1.One percentage decrease in unemployment is associated with two percentage points of additional growth in real gdp is called?
-
Q2.Who is called the father of Economics?
-
Q3.For economists, the word “utility” means:
-
Q4.In economics, the pleasure, happiness, or satisfaction received from a product is called ______?
-
Q5.When economists say that people act rationally in their self interest, they mean that individuals _______?
-
Q6.According to Emerson: “Want is a growing giant whom the coat of Have was never large enough to cover.” According to economists, “Want” exceeds “Have” because:
-
Q7.According to economists, economic self-interest:
-
Q8.When entering a building, Asim diverts his path to go through an open door rather than make the physical effort to open the closed door that is directly in his path. This is an example of:
-
Q9.Resources in an economy ?
-
Q10.The sacrifice involved when you choose a particular course of action is called the ?
Category
Test Your Knowledge
Want to practice more questions like this? Take a quiz in this category!
Take a Quiz