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suppose that demand's elasticity for cars in USA=2.5 and in UK=3 If in the next year the incomes of USA grow with 2% and in UK with 1% wht will be the effect in Qd in both countries?

Economics - Financial Markets
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See as the income level of both the countries is increasing then people will have more money to spend that is their desire will get converted into demand ( with extra amount to spend). Thus, such people who do not possess car will purchase car and those who already possess car will try to buy cars which will be better than the car they possess.
my teacher did smth like |dw:1322932310482:dw| i didn't get...do these show the increase of Qd of USA and UK?
and income elasticity of demand

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Other answers:

see this equation is for income elasticity of demand..........i was telling it u in words......... If the demand decreases for cars it means that it is inferior good...........and if it demand increases it means that it is a superior good
\[Income Elasticity of Demand = \frac{percent chage i n quantity demanded}{percent change i n income level}\]
from this u can find out the quantity demanded
i was actually trying to explain the relation between income and demand
Oh..............I think I got it.....Thanks ^_^
so they are directly proportional to each other as the income increases the demand of inferior goods goes down and as income increases the demand of superior goods increases
in which semester?
1st semester ,1st year X)
ok..microeconomics
yes...i like it a lot :)
yeah very interesting subject i like macroeconomics not microeconomics
just finished micro will start macro on wednesday :) wht r u studying?
m not student
oh ok...wht have u studied then?
Same thing which u r studying right now
business administration?
yeah
what specialization u want to opt
Idk....I think i got some time to think abt it...I've heard accounting is good...idk though
wht's ur spec?
if u want to opt for finance then it is good because for finance u need a strong quant base
from my reply it must be clear^^^^^^^^^^^^^^^^^
aha i got it ^^......hmmmmmm.....and,,,wht do u exactly do in finance?
Researcher??? O.o...marketing??? O.o
I'm sorry for my ignorance :/ but I've heard research only in marketing till now :/ sorry....wht do u search for??
OMG!!! I feel like I'm the most ignorant person in the whole world :(:(:( So we can talk at least after I've finished 1st year :P:P is it this? http://www.citibank.com/corpbank/wwss/agency/pf.htm ?? Future plans.....My grades average of 3 years must be +9/10 so tht I can apply for masters scholarships somewhere out of Albania(whr i am from) ^^
Wow....lucky you :):) I wish I can have the same luck ^^ How old r u?
actually i dont want to disclose my identity
so nvr use my actual name on these kind of websites......sorry for that
Ok.....I'm sorry....

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