The ability of a good or service to satisfy a want is known as
a. tangibility.
b. desirability.
c. utility.
d. satisfying.
c. utility.
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Goods are ________ when the income elasticity of demand is positive
A) complements B) elastic C) inferior D) substitutes E) normal
The IS curve depicts the relationship between
A) aggregate output and the real interest rate. B) investment demand and the real interest rate. C) investment demand and the level of current output. D) national saving and the level of current output.
When positive externalities are present, it means that:
A. individuals don't take into account all the benefits associated with their market choice. B. society bears part of the cost borne of private transactions. C. individuals consume more than the social optimum. D. All of these statements are true.
If the firm is minimizing losses, total loss will be
A. OMKE.
B. EKQN.
C. NQHG.
D. FIHG.