_________________ —a term describing a good in which the quantity demanded falls as income rises and in which quantity demanded rises and income falls.
a. Complement good
b. Inferior good
c. Normal good
d. Superior good
b. Inferior good
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Physical currency is ________ popular than e-cash, ________
A) less; and both are portable and recognizable B) more; and both are portable and recognizable C) more; but only physical currency is portable and recognizable D) more; and both are portable, untraceable and anonymous E) less; but both are portable, untraceable and anonymous
In the market for cell phones, which of the following events increases the supply of cell phones?
A. New technology lowers the cost of making a cell phone B. Rise in the price of an e-book reader (a substitute in production) C. An increase in people's incomes D. A rise in the wage rate paid to electronics workers
The financial amount that a risk averse person requires to take on risk is called:
a. risk arbitrage. b. risk bonus. c. risk premium. d. risk capital. e. risk rate.
According to the classical model, there is no need for government intervention in the economy. if the economy is left alone, full employment output will eventually occur
a. True b. False