It has been noted that when the price of a good increases, people purchase less of the good. This is an example of
A. irrational behavior.
B. normative economic analysis.
C. positive economic analysis.
D. macroeconomic analysis.
Answer: C
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When television commentators refer to "tax and spend" policy, they are referring to
A) monetary policy. B) the Federal Reserve policy. C) automatic stabilizers. D) fiscal policy.
If the personal assets of the owners cannot be claimed if the business is bankrupt, the owners are said to have
A) a partnership type of business. B) unlimited liability. C) a proprietorship type of business. D) limited liability.
Exhibit 36-2 Stock High Low Close Net chg. Dasher 17.25 16.75 17.00 (A) Dancer 34.85 34.25 (B) +0.25 Prancer 56.50 55.90 56.00 (C) Vixen 65.90 (D) 64.75 -0.75 Refer to Exhibit 36-2. If the closing price of Dasher's stock on the previous day was $17.50, what value goes in blank (A)?
A. -0.50 B. +0.50 C. -0.25 D. -0.75 E. There is not enough information given to answer this question.
Starting in 1974, the conventional M1 money demand function began to
A) severely underpredict the demand for money. B) severely overpredict the demand for money. C) predict more precisely the demand for money. D) do none of the above.