Fill in the blanks. The demand curve for an inferior good is _________ sloping, while the demand curve for a Giffen good is _______ sloping.
a. downward; downward.
b. downward; upward.
c. upward; downward.
d. upward; upward.
b. downward; upward.
You might also like to view...
As the ________ becomes larger, the distance between the line of absolute equality and the ________ becomes greater.
A. Gini coefficient; Lorenz curve B. Gini coefficient; production possibilities curve C. Income distribution size; Lorenz curve D. Lorenz curve; Gini curve
Itemized deductions are reductions of adjusted gross income that depend on
A. family size. B. how money is spent (e.g. on state and local taxes or home mortgage interest). C. family structure (i.e. filing status). D. how much money is saved.
If a country has a current account balance of $100 billion and the official settlements account balance is zero, then the country's capital and financial account balance must be
A) negative but not necessarily equal to -$100 billion. B) equal to -$100 billion. C) equal to $100 billion. D) positive but not necessarily equal to $100 billion. E) zero.
Whenever a firm is making positive economic profit, there is nothing it can do to make more profit.
Answer the following statement true (T) or false (F)