If demand is income elastic it means:
A) the percentage change in quantity demanded is less than the percentage change in income
B) the percentage change in quantity demanded is equal to the percentage change in income
C) the percentage change in quantity demanded is more than the percentage change in income
D) the percentage change in income is less than the percentage change in price
Correct Answer:
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Q1: GDP measures:
A) inflation
B) The cost of living
C)
Q2: CPI measures:
A) inflation
B) The cost of living
C)
Q3: GDP per person measures:
A) inflation
B) The cost
Q5: If inflation was 3% and the following
Q6: Inflation is measured with a weighted index.
Q7: A high interest rate is likely to
Q8: A low interest rate is likely to
Q9: Gearing measures the profitability of a business:
Q10: Anyone without a job is part of
Q11: An increase in the value of a
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