Author Question: Which of the following is accounted for when we measure economic growth in terms of per capita real ... (Read 59 times)

JMatthes

  • Hero Member
  • *****
  • Posts: 578
Which of the following is accounted for when we measure economic growth in terms of per capita real GDP?
 a. Changes in the quality of life
  b. Changes in income distribution
  c. Changes in standards of living
  d. Changes in price level
  e. People's nonmonetary needs

Question 2

If the elasticity of demand coefficient for a good is one-sixth (in absolute terms), we know:
 a. that for every 1 increase in quantity, there will be a 6 increase in price.
  b. that for every 1 increase in quantity, there will be a 6 decrease in price.
  c. that for every 6 increase in quantity, there will be a 1 increase in price.
  d. that for every 6 increase in quantity, there will be a 1 decrease in price.



dyrone

  • Sr. Member
  • ****
  • Posts: 322
Answer to Question 1

d

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

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

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

For a complete list of videos, visit our video library