Podcast
Questions and Answers
What does a positive income elasticity indicate about a commodity?
What does a positive income elasticity indicate about a commodity?
Which reason would NOT cause a shift of the demand curve to the right for a normal good?
Which reason would NOT cause a shift of the demand curve to the right for a normal good?
If two goods are considered complements, what can be said about their cross elasticity of demand?
If two goods are considered complements, what can be said about their cross elasticity of demand?
What term describes the phenomenon where an employee faces penalties for providing information in a discrimination claim?
What term describes the phenomenon where an employee faces penalties for providing information in a discrimination claim?
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Which statement about unrelated products and their cross elasticity is correct?
Which statement about unrelated products and their cross elasticity is correct?
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Study Notes
Discrimination in Employment
- Discrimination occurs when an employee is penalized for providing information in a discrimination claim.
Income Elasticity
- A positive income elasticity indicates a normal good.
- Complements have a negative cross elasticity.
- Goods with a price elasticity greater than 1 are elastic.
- Unrelated products have an infinite cross elasticity.
Demand Curve Shifts
- A demand curve shifts to the right for a normal good with a fall in the price of substitutes.
- A change in tastes towards competitor goods causes a demand curve to shift.
- An increase in household income shifts the demand curve to the right.
- An expected future price increase shifts the demand curve to the right.
- An increase in population shifts the demand curve to the right.
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Description
Explore key concepts in employment discrimination and demand elasticity in this quiz. Learn about how discrimination impacts employees and various factors influencing demand curves. Test your understanding of income elasticity and shifts in demand due to various market changes.
