Consumers are willing to pay a higher price for a ________-quality good because it provides them with ________ benefits.
A) higher; less
B) lower; more
C) lower; less
D) higher; more
D) higher; more
You might also like to view...
In the above figure, starting at E3, if there is an increase in technology that causes a permanent increase in production capabilities
A) aggregate supply would shift to SRAS0 and LRAS1 would shift to LRAS0. B) aggregate supply would shift to SRAS2 and LRAS0 would shift to LRAS1. C) aggregate supply would shift to SRAS1 and LRAS0 would shift to LRAS1. D) aggregate supply would shift to SRAS1 and then return to SRAS0.
Explain the reasoning behind the inverted-U theory of R&D expenditures
What will be an ideal response?
Suppose households decide to reduce savings because they want to enjoy more present time than future time. In this case, the loanable funds model predicts that
A) interest rate goes down, and quantity of borrowed funds increases. B) interest rate goes down, and quantity of borrowed funds decreases. C) interest rate goes up, and quantity of borrowed funds decreases. D) interest rate goes up, and quantity of borrowed funds increases.
Which of the following is a problem when comparing GDPs per capita between nations?
a. GDP per capita fails to measure income distribution. b. Fluctuations in exchange rates affect differences in GDP per capita. c. GDP per capita is subject to greater measurement errors for LDCs compared to IACs. d. All of these.