This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the price elasticity of demand for airline travel is 0.52 in the short run and 1.46 in the long ... (Read 125 times)

clippers!

  • Hero Member
  • *****
  • Posts: 828
on: Jun 29, 2018
If the price elasticity of demand for airline travel is 0.52 in the short run and 1.46 in the long run, then the demand for airline travel is ________ in the short run and ________ in the long run.
 
  A) elastic; elastic
  B) elastic; inelastic
  C) inelastic; elastic
  D) inelastic; inelastic

Question 2

Real GDP can be criticized as a measure of economic welfare because it
 
  A) does not include the value of products produced in the household.
  B) does not take account of the degradation of environmental quality.
  C) does not include leisure time available to a society.
  D) All of the above answers are correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joechoochoy

  • Sr. Member
  • ****
  • Posts: 306
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


clippers!

  • Member
  • Posts: 828
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

nanny

  • Member
  • Posts: 313
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Long-day stimulation of flower development in Arabidopsis. Long-day stimulation of flower development in Arabidopsis.
The U.S. Long-Term Ecological Research (LTER) network. The U.S. Long-Term Ecological Research (LTER) network.
A long, narrow cobbled street in Old San Juan. A long, narrow cobbled street in Old San Juan.
A port fuel-injected engine that is equipped with long, tuned intake-manifold runners. A port fuel-injected engine that is equipped with long, tuned intake-manifold runners.
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ... If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ...
Video: Dissociative Disorders (Part 3)

For a complete list of videos, visit our video library