Income elasticity of demand is a measure of responsiveness of the quantity of goods or services demanded to a change in the income of the people demanding the good. It is calculated as the ratio of the percentage change in the quantity demanded to the percentage change in income.
In this case, percentage change in quantity demanded is 25% and percentange change in income is 20%
Therefore, income elasticity = 25/20
= 1.25
It's appropriate if it's cited and used as an example or prompt.
Potential GDP = $20
Real GDP =$19.2
so an output gap is measured relative to potential output and it is calculated according to the formula [( X - Y ) Ă· Y] Ă—100. In this case, the output gap is [($10 billion - $8 billion) Ă· $8 billion] Ă—100 = 25%.
Answer:
The thrust of their concern is biasness and the fact that people would not be able to make informed decisions.
Yes I agree with this concern
Explanation:
Today so many media stations and outlets are owned by different corporations or conglomerates. So it is very possible that these media outlets are influenced by the corporations Which own them.
The main concern of critics is that these media outlets would begin to put forward biased contents and they would stop serving the public when they overlook the shortcomings of these corporations. Thereby making people unable to make informed decisions which is crucial for democracy.
Corporate media is actually a good idea since it creates a healthy competition. What is necessary is a check by the government so as to avoid biasness. Making publication of real news and enhancing informed decision making.
