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

Author Question: Which of the following is likely to have the smallest price elasticity of demand? A) an ... (Read 55 times)

misspop

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
Which of the following is likely to have the smallest price elasticity of demand?
 
  A) an automobile
  B) a new automobile
  C) a new Ford automobile
  D) a new Ford Mustang

Question 2

The government increases taxes. As a result, in the short run, real GDP ________ and the price level ________.
 
  A) increases; rises
  B) decreases; falls
  C) decreases; rises
  D) increases; falls


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

TheNamesImani

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


misspop

  • Hero Member
  • *****
  • Posts: 540
Reply #2 on: Jun 29, 2018
Thank you :)


TheNamesImani

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Smallest Snake in the world Smallest Snake in the world
The recently discovered lleret calvaria from Kenya is the smallest H. erectus and shares many traits The recently discovered lleret calvaria from Kenya is the smallest H. erectus and shares many traits
Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
Classic Supply - Demand Curve Classic Supply - Demand Curve
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
The demand for cheap coal to generate electrical power is rising The demand for cheap coal to generate electrical power is rising
Video: Molecules, Membrane Permeability and Structure

For a complete list of videos, visit our video library