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 137 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
Excellent

nyrave

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

A Tibetan wolf killed in 1938. Note the proportionately short legs A Tibetan wolf killed in 1938. Note the proportionately short legs
Anopheles larva from southern Germany, about 8 mm long Anopheles larva from southern Germany, about 8 mm long
Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory
The demand for cheap coal to generate electrical power is rising The demand for cheap coal to generate electrical power is rising
Long division for polynomials Long division for polynomials
A random sample of 87 airline pilots recruited by an airline service had an average yearly ... A random sample of 87 airline pilots recruited by an airline service had an average yearly ...
Video: Eczema

For a complete list of videos, visit our video library