Demand for a necessity, such as food, is
a. both income and price inelastic
b. income inelastic and price elastic
c. income elastic and price inelastic
d. both income and price elastic
e. income elastic and perfectly price inelastic
Question 2
As the economy recovers from a recession, we should expect that
a. demand for inferior goods will fall and demand for normal goods will rise
b. demand for both inferior and normal goods will rise
c. demand for inferior goods will rise and demand for normal goods will fall
d. demand for both inferior and normal goods will fall
e. demand for complements will fall
A severe food shortage occurred in the Netherlands during the “Hunger Winter” of 1944–1945.
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
The Epiglottis The epiglottis prevents food from entering the trachea when you swallow
Employment Status of Food-Insecure Households
Humans take in energy by eating food
Variable and absorption costing, explaining operating-income differences.