If the income elasticity of demand for education is 1, what will be the effect on expenditures
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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?
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Income elasticity of demand measures how changes in income affect the quantity of a good or service ...View the full answer
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Related Book For 
Economics Of The Public Sector
ISBN: 9780393925227
4th Edition
Authors: Joseph E. Stiglitz, Jay K. Rosengard
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