If the price of pizza increases, the quantity of pizza demanded will fall because some consumers will switch to tacos, hamburgers, or submarine sanwiches. This is called the:
a. income effect
b. the alternative effect
c. the substitution effect
d. the normal good effect
c
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Trading in collateralized mortgage obligations (CMOs) takes place in the __________ market between __________
A) primary; specialists B) organized exchange; dealers C) over-the-counter; dealers D) primary; Ginnie Mae and Freddie Mac
The contention that specific sensitive domestic technologies must not be traded freely is
A) a national defense concern. B) the infant industry argument. C) dumping. D) to protect domestic jobs.
Which of the following statements is not correct?
a. The poverty line is an absolute level of income set by the federal government below which a family is considered to be in poverty. b. The poverty line is approximately equal to three times the cost of providing an adequate diet. c. The poverty line is adjusted annually to reflect changes in price levels. d. The poverty line is adjusted semiannually to reflect changes in fuel prices.
The longest contractionary period in the U.S. Economy since 1854 was how long?
a. 3 ½ years b. 4 ½ years c. 5 ½ years d. 6 ½ years