When the income-consumption curve has a positive slope throughout its entire length, we can conclude that
A) both goods are inferior.
B) both goods are normal.
C) the good on the vertical (y) axis is inferior.
D) the good on the horizontal (x) axis is inferior.
B
You might also like to view...
High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of WorkersChairs Produced Per Hour00110218324428530For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $70?
A. 3 B. 4 C. 1 D. 2
Which of the following did NOT significantly exacerbate the banking crisis of the early 1930s?
A) the Fed's decision not to make loans to insolvent banks B) the large number of small, poorly diversified banks C) the large number of rural banks that held agricultural loans during a time of falling commodity prices D) the large amount of fraud carried out by bank managers
The New York Stock Exchange is the only place where a corporation can sell stocks and raise money
a. True b. False Indicate whether the statement is true or false
A bank may make loans until its:
A. required reserves are exhausted. B. excess reserves are exhausted. C. total assets are exhausted. D. total liabilities are exhausted.