In order to study how changing price affects consumer decisions, we must assume all other factors, such as income and the prices of other goods are constant. This assumption is best know as
A) rationality.
B) ceteris paribus.
C) normative economics.
D) behavioral economics.
Answer: B
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Thrift institutions importance as a source of funds for borrowers
A) has shrunk from around 40 percent of total credit advanced in the late 1970s to below 30 percent by 2014. B) has shrunk from over 20 percent of total credit advanced in the late 1970s to around 3 percent by 2014. C) has expanded dramatically, from around 15 percent of total credit advanced in the late 1970s to above 25 percent by 2014. D) has expanded dramatically, from around 15 percent of total credit advanced in the late 1970s to above 30 percent by 2014.
For which of the following medical goods or services is the income elasticity of demand likely to be largest?
a. emergency services after a car accident b. measles shots c. physical examinations for life insurance applications d. medical tests to diagnose specific symptoms e. face-lifts
The extremely rapid _____________ of foreign capital from the flow of international trade can plunge an economy into deep recession.
a. introduction b. departure c. increase d. stalling
Free trade agreements between the United States and Canada started with the auto industry in the year 1965
Indicate whether the statement is true or false