An inferior good is a good whose quantity demanded
a. rises when its price falls.
b. falls when the price of a related good falls.
c. falls when the consumer's total utility rises.
d. rises when the consumer's income falls.
D
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A situation where limited resources make it impossible to fulfill all of our wants is known as
A) scarcity. B) opportunity cost. C) a trade-off. D) responding to incentives.
To buy season tickets at the new Levi's Stadium, 49ers fans have to buy a Personal Seat License (PSL) that then allows them to buy season tickets for the next 30 years. This is an example of
A) why the NFL shouldn't have anti-trust exemptions. B) two-part pricing, where the PSL is the lump-sum payment. C) pure bundling pricing. D) positively correlated pricing.
Which of the following is true?
A. People tend to enjoy the process of buying a car more when the process involves difficult choices. B. Budgeting your income will often result in less total spending. C. High prices and rebates on cars simply irritate the consumer and make him feel treated like a fool. D. People prefer the toll ways where they throw in some change every dozen miles or so to a toll road that has one payment at the end of the trip.
When expected dollar-euro exchange rates rise, the foreign expected dollar return curve shifts:
a. in. b. out. c. not at all. d. Not enough information is provided to answer the question.