The demand for food is most elastic in countries A) with low ...

[Diane]

The demand for food is most elastic in countries
 
  A) with low income levels.
  B) with intermediate income levels.
  C) with high income levels.
  D) that are highly urbanized.

Question 2

In the above figure, the short-run aggregate supply curve is SAS and the aggregate demand curve is AD. A recessionary gap exists
 
  A) if the long-run aggregate supply curve is LAS1.
  B) if the long-run aggregate supply curve is LAS2.
  C) if the long-run aggregate supply curve is LAS3.
  D) All of the above answers are correct.

[carlsona147]

Answer to Question 1

A

Answer to Question 2

C

[Diane]

Gracias!

[bimper21]

TYSM