This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the price elasticity of demand for airline travel is 0.52 in the short run and 1.46 in the long ... (Read 148 times)

clippers!

  • Hero Member
  • *****
  • Posts: 828
on: Jun 29, 2018
If the price elasticity of demand for airline travel is 0.52 in the short run and 1.46 in the long run, then the demand for airline travel is ________ in the short run and ________ in the long run.
 
  A) elastic; elastic
  B) elastic; inelastic
  C) inelastic; elastic
  D) inelastic; inelastic

Question 2

Real GDP can be criticized as a measure of economic welfare because it
 
  A) does not include the value of products produced in the household.
  B) does not take account of the degradation of environmental quality.
  C) does not include leisure time available to a society.
  D) All of the above answers are correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joechoochoy

  • Sr. Member
  • ****
  • Posts: 306
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


clippers!

  • Member
  • Posts: 828
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

sailorcrescent

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

A Tibetan wolf killed in 1938. Note the proportionately short legs A Tibetan wolf killed in 1938. Note the proportionately short legs
Long-Term Potentiation and Long-Term Depression Long-Term Potentiation and Long-Term Depression
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
The population of Asia increases rapidly, the demand for food and water is also growing The population of Asia increases rapidly, the demand for food and water is also growing
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
"The Department of Agriculture came out today with its prediction for food price "The Department of Agriculture came out today with its prediction for food price
Video: Adolescent Diabetes

For a complete list of videos, visit our video library