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Author Question: Around 25 percent of the federal government's budget goes towards redistributive programs. a. ... (Read 45 times)

rmenurse

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on: Jul 1, 2018
Around 25 percent of the federal government's budget goes towards redistributive programs.
 
  a. True b. False

Question 2

Explain what the slope of the income consumption curve shows about the income elasticity of demand.
 
  What will be an ideal response?


mcni194

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

A positive slope of the income consumption curve is associated with a positive income elasticity of demand, and a negatively sloped income consumption curve is associated with a negative income elasticity of demand. The income consumption curve represents how consumption changes with an increase in income. An upward-sloping income consumption curve represents an increase in consumption as income rises, as does a positive income elasticity.


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