« previous next »

Author Question: Farm income has fallen in part because demand for farm products is price inelastic and income ... (Read 77 times)

jake

  • Hero Member
  • *****
  • Posts: 538
on: Jul 1, 2018
Farm income has fallen in part because demand for farm products is price inelastic and income inelastic.
 a. True
  b. False

Question 2

Luxury goods are
 a. price inelastic
  b. income inelastic
  c. income elastic
  d. goods with negative income elasticity
  e. goods with positive price elasticity


Ahnyah

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

The Many Faces of Life (Part 1) The Many Faces of Life (Part 1)
Ten Leading Causes of Death in Low-Income Countries, 2008 Ten Leading Causes of Death in Low-Income Countries, 2008
How to calculate annuity when compounded semi-annually (Part 1) How to calculate annuity when compounded semi-annually (Part 1)
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
Simultaneous Determination of Income and Modernization Simultaneous Determination of Income and Modernization
Bivalve (scallop) with hinged, two-part shell Bivalve (scallop) with hinged, two-part shell
Video: Factors that affect conduction rates (myelination, axon diameter & temperature)

For a complete list of videos, visit our video library