Product % Change in Income % Change in Quantity Demanded W -1 -1 X +6 +3 Y -1 +1 Z +4 +8 Refer to the above table. Which product is a normal good but least responsive to a change in income?
A. Product W
B. Product Z
C. Product Y
D. Product X
Ans: D. Product X
Economics
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a. True b. False Indicate whether the statement is true or false
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When economists refer to "the invisible hand," what do they mean?
What will be an ideal response?
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There is strong evidence that entrepreneurs are characteristically
A. driven by greed. B. overoptimistic. C. not good business people. D. satisfied with the status quo.
Economics