举一反三
- For Susie, a 7 percent increase in income results in a 12 percent increase in the quantity demanded of pizza. For Susie, the income elasticity of demand for pizza is_________. A: negative, and pizza is a inferior good B: positive, and pizza is a normal good C: positive, and pizza is an inferior good D: negative, and pizza is an normal good
- If a 15% increase in price for a good results in a 20% decrease in quantity demanded, the price elasticity of demand is
- Suppose there is a 6 percent increase in the price of good X and a resulting 6 percent decrease in the quantity of X demanded. Price elasticity of demand for X is
- If a 4% increase in income causes a 2% increase in the amount of books demanded, then A: The income elasticity of demand for books is negative B: Books are a necessity and a normal good C: Books are luxury goods D: Books are inferior goods
- Suppose that the quantity supplied of pizza exceeds the quantity demanded for pizza. We would expect that:
内容
- 0
a good (or service) whose consumption declines as income rises and increases as income decreases increase in income=decrease in consumption decrease in income=increase in consumption
- 1
The replacement ratio is A: the reservation wage divided by the wage rate offered on a new job B: the reduction in real GDP caused by a 1 percent reduction in unemployment benefits C: after-tax income while unemployed divided by after-tax income while employed D: the wage rate offered on a new job divided by unemployment benefits E: the increase in the unemployment rate caused by a 1 percent increase in the inflation rate
- 2
If the demand for orange juice is elastic, then as the price falls, quantity demanded for orange juice will ________ and total revenue for orange suppliers will ________. A: increase; increase B: decrease; increase C: decrease; decrease D: increase; decrease
- 3
An increase in the demand of the imported commodity subject to a given import quota will reduces the domestic quantity demanded of the commodity.
- 4
Fresno Salads has current sales of $6,000 and a profit margin (net income/sales) of 6.5 percent. The firm estimates that sales will increase by 4 percent next year and that all costs will vary in direct relationship to sales. What is the pro forma net income?