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 69 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?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

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?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
Classic Supply - Demand Curve Classic Supply - Demand Curve
Price of Computers, 1982–2010 Price of Computers, 1982–2010
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Protein catabolism (Krebs cycle) and Protein anabolism (protein synthesis)

For a complete list of videos, visit our video library