The income elasticity of demand for a food is unity. a consumer's monthly income is $2,000, of which 20 percent is spent on food. if income doubles, the amount spent on food will be:

Overuse of visual enhancements will cause a document to appear cluttered and will defeat the purpose of creating an appealing, easy-to-read document. A. TrueB. False

GDP is not a perfect measure of well-being; for example, a. GDP incorporates a large number of non-market goods and services that are of little value to society. b. GDP places too much emphasis on the value of leisure. c.

Why is andrew carnegie famous? a. he was accused of creating a monopoly in the oil industry. b. he was a founding member of the new york stock exchange. c. he was a financier who owned large banks in several major american cities. d.

The Mick Company reported a LIFO cost of goods sold for the year of $100,000. The LIFO reserve decreased by $30,000 for the year. An estimate of the cost of goods sold under FIFO is: Multiple Choice $70,000. $160,000. $200,000. $130,000.

In 1983, one could buy a model radio-controlled airplane for $11.50 each. Those same planes are available today and the price increased at exactly the rate of inflation. If the CPI today is 220.

Your business uses the allowance method to account for uncollectible receivables. At the beginning of the year, Allowance for uncollectible accounts had a credit balance of $ 1 comma 000.

Suppose you have a choice of working full-time during the summer or attending summer school full-time. Summer tuition and books are $3,000. If you worked, you could make $5,000. Your rent is $1,000 for summer, regardless of your choice.

Which phrase defines complementary goods

If a company's current assets increase, what might we assume about their inventory levels? a) It increasedb) It decreasedc) It stayed the samed) We don't have enough information to decide

What is the effect of import restrictions on prices? a. they cause prices to drop. b. they cause prices to rise. c. they often cause prices to rise steeply and then drop. d. they usually do not have any lasting effect on price?