Other Demand Elasticity Quiz Questions and Answers PDF Download - 69

If price of X increases and so as the price of Y decreases is known to be as complementary goods and it's elasticity is

1. positive cross price elasticity
2. inelastic cross price elasticity
3. negative cross price elasticity
4. zero elasticity

The responsiveness of the quantity demanded for a good or service to a change in the income of the people demanding the good, ceteris paribus is known as

1. income elasticity of demand
2. price elasticity of demand
3. cross elasticity of demand
4. income elasticity of supply

In competitive markets free of transportation costs and trade barriers, identical products sold in different countries must sell for the same price when their price is expressed in terms of the same currency is known as

1. law of one price
2. purchasing power parity
3. money supply inflation
4. dollarization of the economy

The tax rate you pay when you add all sources of taxable income and divide that number into the amount of taxes you owe is called as

1. marginal tax rate
2. average tax rate
3. total tax rate
4. partial tax rate

The act of a government that encourages advance technological industrial revolution is known as

1. industrial revolution
2. technological revolution
3. technological policy
4. industrial policy