If, after winning the lottery, you start eating more sirloin steaks and less chicken we can conclude that for you Question 11 options:
A. your demand for chicken has increased along with your demand for sirloin steaks.
B. sirloin steaks are an inferior good and chicken is a normal good.
C. sirloin steaks are a normal good and chicken is an inferior good.
D. sirloin steaks and chicken are complements.
C. sirloin steaks are a normal good and chicken is an inferior good.
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Over time, permanent rises in government purchases will lead to ______.
a. reduction of the crowding-out effect b. elimination of the crowding-out effect c. increases in private expenditures d. decreases in private expenditures
The ________ approach to corporate taxation is considered double taxation.
A) separate entity B) integrated system C) capital gains D) value-added
The government uses the buying power of wages in reporting changes in "nominal wages" in the economy.
Answer the following statement true (T) or false (F)
If the marginal cost is increasing over a given output range, the average total cost must increase.
Answer the following statement true (T) or false (F)