If demand for Tesla automobiles rises in an area where incomes have increased, this tells us that a Tesla is
A. a substitute good.
B. a complementary good.
C. a normal good.
D. an inferior good.
Answer: C
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A country club charges a membership fee. Members pay competitive prices for the club's recreation and restaurant services. This situation is an example of
a. first-degree price discrimination. b. second-degree price discrimination. c. third-degree price discrimination. d. a two-part tariff.
Present two arguments as to why the Fed should adopt inflation targeting as a framework for monetary policy
What will be an ideal response?
Open market purchases raise the ________ thereby raising the ________
A) money multiplier; money supply B) money multiplier; monetary base C) monetary base; money supply D) monetary base; money multiplier
The amount of wealth that an individual wishes to hold as money is determined by
a. the price level b. the price level and real income c. real income d. real income and the interest rate e. the price level, real income, and the interest rate