All of Jill's friends have been telling Jill that she must see a certain movie but she is not sure that she will like it. The movie is a(n)
A) experience good.
B) credence good.
C) logo good.
D) search good.
Answer: A
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Checks are NOT money because they
A) are issued by banks, not by the government. B) are merely instructions to transfer money. C) have value in exchange but little intrinsic value. D) are not backed by either gold or silver.
A bank creates money by
A) lending its excess reserves. B) purchasing currency from the Federal Reserve. C) buying bonds from the Federal Reserve. D) printing more checks.
The substitution effect of a change in the price of cauliflower is the portion of the change in the quantity of cauliflower demanded that can be attributed to the change in the price of a substitute vegetable such as asparagus
Indicate whether the statement is true or false
All other factors held constant, if the price of game consoles rise, the demand for gaming titles will
a. shift to the left, because they are normally used together. b. remain constant. c. shift to the right, because they are normally used together. d. shift to the right, because they are substitutes.