Use the above table. Based on the information in the table, jam is a(n)
A. necessary good.
B. inferior good.
C. negative good.
D. normal good.
Answer: B
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If retail managers are ordering extra merchandise from their wholesale distributors, then it is probably true that
A. total output is greater than total spending. B. price levels are decreasing. C. inventory levels are increasing. D. inventory levels are decreasing.
Explain how consumer surplus changes when a monopoly price discriminates
What will be an ideal response?
The ratio of the prices of two goods multiplied by -1 is equal to the slope of the budget line
a. True b. False
In a two-country world, an increase in the real interest rate in the domestic economy (relative to the real interest rate in the foreign economy) shifts
A) the domestic AD curve leftward and the domestic SRAS curve rightward. B) the domestic AD curve rightward and the domestic SRAS curve leftward. C) both the domestic AD curve and the domestic SRAS curve rightward. D) both the domestic AD curve and the domestic SRAS curve leftward. E) the domestic AD curve leftward and does not affect the domestic SRAS curve.