A good that people buy only to make them look better than their neighbors is called a:
A. McGood.
B. conspicuous consumption good.
C. relative position good.
D. show-off good.
Answer: B
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PSD areas
a. must meet the same standards as do nonattainment areas b. face standards that are necessarily set at an efficient level c. are regions that meet or exceed national ambient air quality standards d. are likely associated with higher MSC than that of nonattainment areas
When the economy goes into recession, the biggest increase in unem-ployment is _________
A. structural because jobs are lost in most states B. cyclical because jobs are lost in many industries as they cut production C. frictional because the creation of jobs slows D. the combination of structural and frictional as few new jobs are created.
Economists will readily confess that even after centuries of systematic observation of their subject matter, of data collecting, theory building, empirical testing, and amassing historically relevant material, they still usually arrive at different and sometimes even highly conflicting conclusions and recommendations
Indicate whether the statement is true or false
When Argentines increase their savings in U.S. dollars, the U.S. money:
A. demand curve shifts left. B. supply curve shifts left. C. supply curve shifts right. D. demand curve shifts right.