Consider the diagram below, where E is the consumer's original equilibrium position. We know good X is not a normal good if, as income increases, the consumer's new equilibrium position is at point:
A. A
B. B
C. C
D. D
A. A
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TQM means
A) total quiet management. B) total quality maneuvers. C) total quality management. D) totally quiet motion. E) totally quality means.
There is a paradox that water has a high marginal utility, yet we value it little, while diamonds have a low marginal utility, while we value them highly
Indicate whether the statement is true or false
Which of the following is the order of fastest to slowest acting policy, once enacted, in affecting aggregate demand?
a. taxes, money, government spending b. taxes, government spending, money c. government spending, taxes, money d. government spending, money, taxes
Which of the following has proved to be spectacularly false, at least recently?
a. as an expansion proceeds, people will hold no more cash b. as an expansion proceeds, banks will hold no more excess reserves c. the oversmplified money multiplier formula is predicated on two critical assumptions d. All of the above are false.