Author Question: In the figure above, income A) is most equally distributed in country A. B) is most equally ... (Read 157 times)

sam.t96 · **on:** Jun 29, 2018

In the figure above, income

A) is most equally distributed in country A.
B) is most equally distributed in country B.
C) is most equally distributed in country C.
D) is equally distributed in all three countries.

Question 2

If income increases by 2.0 percent, and quantity demanded of a good increases by 0.2 percent, the income elasticity for the good is

A) 0.22.
B) 0.002.
C) 0.10.
D) 1.00.