If the percentage change in the quantity demanded is negative while the percentage change in income is positive, the good is an inferior good.
Answer the following statement true (T) or false (F)
True
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The "long run" is defined as a period of time long enough for the quantities of all of the inputs to production to vary
Indicate whether the statement is true or false
Which of the following is true for a constant cost industry? a. It uses a relatively large share of available resource inputs
b. It uses a relatively small share of available resource inputs. c. Industry expansion will put upward pressure on wages and/or other input prices. d. Both a. and c.
Bondholders are not indifferent when a company sells more bonds
Indicate whether the statement is true or false
Government spending that redistributes income from taxpayers to other groups in the society is
a. a transfer payment b. a subsidy c. a public good d. a merit good e. an equity good