what policies might the government pursue to increase economic mobility across a generation?
Since this is not my area of expertise, I searched Google under the key words "'economic mobility' 'government policy'" to get these possible sources:
http://delong.typepad.com/sdj/2006/08/government_poli_1.html
http://econlog.econlib.org/archives/2006/09/envy_happiness.html
http://www.curp.neu.edu/sitearchive/staffpicks.asp?id=1797
http://www.prospect.org/print/V12/3/brown-j.html
I hope this helps. Thaqnks for asking.
The price of apples falls by 5 percent and quantity demanded increases by 6 percent. This means that the demand for apples is
a. unitary elastic.
b. elastic.
c. inelastic.
d. perfectly inelastic.
e. perfectly elastic.
inelastic
To determine whether the demand for apples is elastic or inelastic in this scenario, we can calculate the price elasticity of demand. Price elasticity of demand measures the responsiveness of quantity demanded to changes in price.
The formula for price elasticity of demand is:
Price Elasticity of Demand = Percentage change in quantity demanded / Percentage change in price
Using the given information, we can calculate the percentage change in quantity demanded and the percentage change in price.
Percentage change in quantity demanded = (6% increase in quantity demanded) / (original quantity demanded)
Percentage change in price = (5% decrease in price) / (original price)
Let's say the original quantity demanded is Q1 and the original price is P1. Therefore, the new quantity demanded is Q2 = Q1 * (1 + 0.06) and the new price is P2 = P1 * (1 - 0.05).
Now, we can substitute the values into the formula:
Price Elasticity of Demand = [(Q2 - Q1) / Q1] / [(P2 - P1) / P1]
After simplifying the equation, we can analyze the result:
- If the price elasticity of demand is less than 1, the demand is inelastic (option c).
- If the price elasticity of demand is equal to 1, the demand is unitary elastic (option a).
- If the price elasticity of demand is greater than 1, the demand is elastic (option b).
- If the price elasticity of demand is infinity, the demand is perfectly elastic (option e).
- If the price elasticity of demand is zero, the demand is perfectly inelastic (option d).
By performing the calculations, we can determine the correct answer for this question.