One characteristic of a Giffen good is that it
A) is a luxury good.
B) is an inferior good.
C) has an upward-sloping Engel curve.
D) All of the above.
B
You might also like to view...
When economic growth occurs, the
A) economy moves along its production possibilities frontier. B) production possibilities frontier shifts outward. C) production possibilities frontier becomes steeper. D) production possibilities frontier shifts outward but no longer limits the amount that can be produced.
If the required reserve ratio is 5 percent, then the simple deposit multiplier is
A) 2. B) 5. C) 10. D) 20.
What is the consumption function? What factor leads to a movement along the consumption function?
What will be an ideal response?
Which of the following is concerned primarily with price discrimination?
a. The Sherman Antitrust Act. b. The Clayton Act. c. The Robinson-Patman Act. d. The Celler-Kefauver Act.