Because Corning produces durable goods, the demand for their goods
A) declines when incomes in the economy are rising.
B) is likely to increase during recession.
C) is consistently high, regardless of the state of the economy.
D) tends to follow the business cycle.
D
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The supply curve of U.S. dollars is drawn assuming other things constant, such as
a. income in the rest of the world b. expectations about the rate of inflation in the United States relative to the rest of the world c. U.S. tastes and preferences for foreign goods d. the interest rate in the United States relative to the rest of the world e. tastes and preferences of the rest of the world for U.S. goods and services
The price elasticity of demand between rifles and bullets is likely to be:
A. negative, because the goods are complements. B. positive, because the goods are complements. C. negative, because the goods are substitutes. D. positive, because the goods are substitutes.
Physical capital is distinguished from human capital because
A) physical capital refers to trained people. B) physical capital refers to equipment and machinery, whereas human capital refers to trained people. C) human capital refers only to day laborers. D) physical capital refers to trained people, whereas human capital refers to equipment and machinery.
One problem that might occur as a result of economic regulation is
A. the quality of service might be lowered. B. the demand for the good may be greater than the supply. C. the firm may be earning more than a normal rate of return on investment. D. that social regulation may follow.