Question

E AaBbCcDd Ee A A A EVEVE AAE 21 T av AalbCcDdEe No Spacing AaBbc Heading Normal 2001 548. 3 205.2 41.3 23.9 37 updates, fixes, and improvements, choose Check for Updates. Worksheet 2 2000 Total Household Expenditure 256.1 Food 110.8 Cereals 23.8 Meat 12.3 Food as % Expenditure 43 Cereal as % Food Meat as % Food Income Elasticity Food - Income Elasticity Meat Optional) 2002 8 47.4 275.4 523 33.3 33 2003 1147.3 328.6 57.7 40. 7 29 2004 1776.2 397.9 50.9 22 75 630 Country: Korea Currency: Won Units: 1,000 Won Do these data agree with Engel's and Bennett's Laws? Does the proportion of food in total expenditures decline as incomes rise? Do income elasticities of food decline as income rises? Do meat expenditures increase as a proportion of food? h (United States) O Focus

Answer 1

a. The data agrees with the Engel's and Bennet's law that the allocation of resources to food decreases as income rises. it can be inferred with the decreasing percentage of food expenses over total expenditure.

b. Yes, we can notice the proportion of food over expenditures decreased gradually from 43 to 22.

The datasheet is incomplete to provide the answers for the rest of the questionnaire. Please post with the complete datasheet.