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Author Question: Which of the following is likely to have the smallest price elasticity of demand? A) an ... (Read 65 times)

misspop

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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


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TheNamesImani

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


misspop

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Reply #2 on: Jun 29, 2018
Thank you :)


TheNamesImani

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Reply #3 on: Jun 29, 2018
Happy to help you


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