1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
almond37 [142]
3 years ago
5

If income increases by 10% and, in response, the quantity of housing demanded increases by 7%, then the income elasticity of dem

and for housing is A) -1. B) -0.7.
Business
1 answer:
Katen [24]3 years ago
4 0

Answer:

the income elasticity of demand is 0.7

Explanation:

The computation of the income elasticity of demand is shown below:

As we know that

Income elasticity of demand is

= Percentage change in quantity demanded ÷ Percentage change in income

= 7 ÷ 10

= 0.7

hence, the income elasticity of demand is 0.7

The same is relevant

You might be interested in
How could the government fight inflation?
OlgaM077 [116]
I say it would be B. Raise taxes
4 0
3 years ago
Which of the following is a function of the Federal Reserve System Board of Governors?
vfiekz [6]

Answer:

The answer is below

Explanation:

The Federal Reserve System Board of Governors is one of the five branches of the Federal Reserve System. Their roles involve carrying out the analysis of economic data, executing supervision of Reserve Banks, establishing and overseeing financial regulations.

The board comprises seven members with 14-year terms. They also partake in the Federal Open Market Committee and as well liaising with leaders in other parts of the government.

4 0
3 years ago
Kenyon Co. uses the perpetual inventory method. Kenyon purchased 400 units of inventory that cost $6.00 each. At a later date th
olga nikolaevna [1]

Answer:$5600

Explanation:

The FIFO inventory system is an inventory system where the inventory purchased first is the first to be sold.

If 800 units are sold, the inventory sold would be calculated as:

$6 × 400 = $2,400

$8 × 400 = $3200

=$5,600

4 0
3 years ago
Assuming that the physical output (i.e., the actual quantity of all final goods and services) of all final goods and services re
joja [24]

Answer:

a) true

Explanation:

A rise in the general price level is called inflation and it affects the nominal value of the company's output. E.g. you sell pants and last year they sold at $10 and now since inflation rate is 10%, they sell at $11. But inflation only affects nominal values, it doesn't affect real values which are calculated using a base price of a certain year X, times the quantity sold. Following the example, your real output would not be $11 per pair of pants, instead it would still remain at $10 since the inflation is discounted.

5 0
3 years ago
I am having to create a presentation about myself and i dont know what to do it about? I NEED YOUR HELP!!!!
In-s [12.5K]

Maybe talk about how you're life has been, or what you struggle with and wish to move on from it. Be creative ideas are endless! Or base it on a topic about your life. For example, if you've ever gotten bullied talk about how you felt through that time.

8 0
3 years ago
Read 2 more answers
Other questions:
  • The Aluminum Company of America (Alcoa) formerly controlled all U.S. sources of bauxite, a key component in the production of al
    11·1 answer
  • AFN equation Broussard Skateboard's sales are expected to increase by 15% from $7.6 million in 2016 to $8.74 million in 2017. It
    7·1 answer
  • Jeff cannot find any of his receipts for entering into his budget. In addition, he cannot find any of his bank statements. What
    10·1 answer
  • Pedro did not save any money for college. What is his best option for job training?
    15·2 answers
  • Which of the following best describes how economists test the empirical predictions of economic models? A) Economists survey ind
    15·1 answer
  • When the average product of labor is decreasing​, the average product of labor is ▼ the marginal product of​ labor, and when the
    7·1 answer
  • Bark Company is considering buying a machine for $240,000 with an estimated life of ten years and no salvage value. The straight
    13·1 answer
  • Given no cash leakage and zero excess reserves held by banks, if reserves increase by $8 billion and the required reserve ratio
    10·1 answer
  • Andre Company does not segregate sales and sales taxes when it charges customers at the register. Its register total for a given
    10·1 answer
  • g Bob is a wheat farmer, but also likes to give fiddle lessons. One spring day, Bob faces a choice: spend ten hours planting whe
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!