A small electric car is an example of an inferior good
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
The total number of workers in two different countries are equal. However, each worker in Country A is three times more productive than a worker in Country B. Which of the following is true in this case?
A) The capital stock in Country B is three times more than the capital stock in Country A. B) The total efficiency units of labor in Country A is three times more than the total efficiency units of labor in Country B. C) The total efficiency units of labor in Country A is one-third of the total efficiency units of labor in Country B. D) The total efficiency units of labor in Country B is six times more than the total efficiency units of labor in Country B.
The relationship between the level of prices and the quantity of real GDP supplied is known as
A) aggregate supply. B) aggregate demand. C) market demand. D) market supply.
In order to discover anything about causal relationships in economics we must first have
A) all the relevant data. B) quantified data or statistics. C) scientific evidence. D) some kind of theory of how things fit together. E) the courage and civility to eliminate all biases and preconceptions from our thinking.
What is the difference between an expenditure-changing policy and an expenditure-switching policy?
What will be an ideal response?