Which of the following goods would be most likely to feature an income elasticity of zero?
a. tickets to a championship football game
b. insulin
c. orange juice
d. cigarettes
Question 2
Which of the following is true?
a. Velocity is not constant over time.
b. The best way to study economic activity is to start with the equation and then integrate the money supply and the volume of international trade.
c. Control over the money supply implies that the Fed has precise control over real GDP.
d. All of the above are true.
Household Income in the United States by Quintiles, 2009
Saving Rates by Income Quintile, 2003
Health and Income per Capita: Two Views
Percentage of higher-income Canadian households
Lone-parent household income and the degree of vulnerability
Draw an Edgeworth box for two consumers over two goods