Suppose there are only two goods in the budget, x and y. you are given the following data: 2015 2016 quantity price quantity price good x 10 5 15 4 good y 20 8 16 10 6. price elasticity of demand for x in 2015 is a. + 0.1 b. − 0.4 c. − 1.2 d. − 2.5 7. the cross price elasticity of demand for x with respect to price of y in 2015 is a. + 2.0 b. – 2.0 c. – 1.0 d. +0.5 8. thus, x and y are a. complements b. substitutes c. unrelated d. inferior goods 9. income of the consumer in 2016 has a. increased by 4.76% b. decreased by 4.76% c. increased by 14.28% d. unchanged

If the government is required to balance the budget and the economy falls into a recession, which of the actions is a feasible policy response? cut taxes to encourage consumer spending invest in infrastructure increase government spending to stimulate the economy cut spending equal to the reduction in tax revenue what is a likely consequence of this policy? unemployment falls due to the economic stimulus. the negative consequences of the recession are magnified. consumer spending increases due to their ability to keep more of their after-tax income. there is hyperinflation due to an increase in aggregate demand.

What is the difference between an "i" statement and a "you" statement? a. the "i" statement is non-confrontational b. the "you" statement is non-confrontational c. the "i" statement is argumentative d. the "you" statement is neutral in tone select the best answer from the choices provided

White truffles are a very prized and rare edible fungus that grow naturally in the countryside near alba, italy. suppose that it costs $200 per day to search for white truffles. on an average day, the total number of white truffles (t) found in alba is t = 20x − x 2 , where x is the number of people searching for white truffles on that day. white truffles can be sold for $100 each. if there is no regulation, how many more people will be searching for white truffles than the socially optimal number?