Refer to Table 16-2. Which of the following statements is true about the two markets?
A) The demand in Middle Fall is less income elastic than the demand in West Fall.
B) The demand in Middle Fall is more price elastic than the demand in West Fall.
C) The demand in Middle Fall is more income elastic than the demand in West Fall.
D) The demand in Middle Fall is less price elastic than the demand in West Fall.
Question 2
Using a broader measure of the unemployment rate where discouraged workers and part-time workers who wished to work full time were counted as unemployed, the BLS estimates the unemployment rate in August 2015 would have ________ compared to the
measured unemployment rate.
A) barely changed B) decreased by less than 1 percentage point
C) more than doubled D) increased by more than 7 percentage points
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E9-23 Prepare income statements Explain the difference in operating income
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