If the income elasticity of demand for education is 1, what will be the effect on expenditures
Question:
If the income elasticity of demand for education is 1, what will be the effect on expenditures on education of a small block grant of $100,000 if the community currently spends 5 percent of its total resources on education?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
Income elasticity of demand measures how changes in income affect the quantity of a good or service ...View the full answer
Answered By
Lamya S
Highly creative, resourceful and dedicated High School Teacher with a good fluency in English (IELTS- 7.5 band scorer) and an excellent record of successful classroom presentations.
I have more than 2 years experience in tutoring students especially by using my note making strategies.
Especially adept at teaching methods of business functions and management through a positive, and flexible teaching style with the willingness to work beyond the call of duty.
Committed to ongoing professional development and spreading the knowledge within myself to the blooming ones to make them fly with a colorful wing of future.
I do always believe that more than being a teacher who teaches students subjects,...i rather want to be a teacher who wants to teach students how to love learning..
Subjects i handle :
Business studies
Management studies
Operations Management
Organisational Behaviour
Change Management
Research Methodology
Strategy Management
Economics
Human Resource Management
Performance Management
Training
International Business
Business Ethics
Business Communication
Things you can expect from me :
- A clear cut answer
- A detailed conceptual way of explanation
- Simplified answer form of complex topics
- Diagrams and examples filled answers
4.90+
46+ Reviews
54+ Question Solved
Related Book For
Economics Of The Public Sector
ISBN: 9780393925227
4th Edition
Authors: Joseph E. Stiglitz, Jay K. Rosengard
Question Posted:
Students also viewed these Business questions
-
1. The income elasticity of demand is _____ (positive/negative) for normal goods and _____ (positive/negative) for inferior goods. 2. If a 20 percent increase in income increases the quantity of...
-
If Starbuck's marketing department estimates the income elasticity of demand for its coffee to be 1.55 a. How will looming fears of a recession (expected to decrease consumers' income by 4% over the...
-
A garden hose attached with a nozzle is used to fill a 10-gal bucket. The inner diameter of the hose is 2 cm, and it reduces to 0.8 cm at the nozzle exit. If it takes 50 s to fill the bucket with...
-
The bank portion of the bank reconciliation for Langer Company at November 30, 2017, was as follows. The bank statement contained two memoranda: 1. A credit of $5,285 for the collection of a $5,140...
-
Cakes baked by the Fresh food Bakery are transported from the ovens to be packaged by one of three wrappers. Each wrapper can wrap an average of 120 cakes per hour (Poisson distributed). The cakes...
-
Analyze the following statement. Is garbage a positive or a negative externality? Why is a market solution practical here? Since the turn of the twentieth century, hog farmers in New Jersey fed...
-
Multiple regression is best implemented on a computer. The following MINITAB commands fits the \(y\) values in \(\mathrm{C} 1\) to predictor values in \(\mathrm{C} 2\) and \(\mathrm{C} 3\). It...
-
On December 31 of last year, Lauren burst into the family living room and announced that she and Connor (her college boyfriend) were going to be married. After recovering from the shock, her mother...
-
The Saleemi Corporation's $3,000 bonds pay 5 percent interest annually and have 13 years until maturity. You can purchase the bond for $800. a. What is the yield to maturity on this bond? b. Should...
-
Many matching grant programs specify that the federal government matches, on a dollar-for-dollar basis, local expenditures up to some particular maximum. Draw the budget constraint between private...
-
In President Reagan's State of the Union message in 1982, he proposed a trade with the states: in return for their taking over responsibility for the full costs of food stamps and Aid to Families...
-
A ship is 45 miles east and 30 miles south of port. The captain wants to sail directly to port. What bearing should the captain take?
-
Based upon evidence presented in this news clip, do tea plantations function as a monopsony in labor markets, or is the market for tea workers competitive? Explain. Sri Lankas workers want a daily...
-
What is meant by tender of performance?
-
Tom took out a $2,000 loan to buy a boat at an interest rate of 10 percent a year. He plans to repay the loan after 2 years. How much will he have to pay?
-
Kathleen Liarkos purchased a used Jaguar XJS automobile from Pine Grove Auto Sales. After experiencing various mechanical problems, she discovered that the vehicles odometer had been turned back....
-
What has been the average growth rate of U.S. real GDP per person over the past 120 years? In which periods was growth most rapid and in which periods was it slowest?
-
Briefly describe credit ratings and credit scores.
-
A supermarket chain is interested in exploring the relationship between the sales of its store-brand canned vegetables (y), the amount spent on promotion of the vegetables in local newspapers (x1)...
-
A supermarket chain is planning to open a number of new stores to appeal to Hispanics in southern California. Give some examples that indicate how the four Ps might be adjusted to appeal to the...
-
How should social class influences affect the planning of a new restaurant in a large city? How might the four Ps be adjusted?
-
Illustrate how the reference group concept may apply in practice by explaining how you personally are influenced by some reference group for some product. What are the implications of such behavior...
-
A mural at the zoo is made up of 14 equal sections. An artist wants to paint four different animals using 11 of the 14 sections. Complete each fraction below to show one way that the artist can paint...
-
Find the x-intercept and the y-intercept of the line below. Click on "None" if applicable. y 6. 5 4. 3 2- 1 x -6 -5 4-3-2 1 2 3 4 5 6 -1 -2+ -3- 4- -5- -6 (a) x-intercept: (b) y-intercept: None ?
-
Solve for y. 1 1x + jy=5 y = (Simplify your answer.)
Study smarter with the SolutionInn App