The income elasticity of demand for ________ goods tends to be positive, while demand for ________ goods tends to be negative
a. normal; inferior
b. inferior; normal
c. necessary; luxury
d. luxury; necessary
a
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Suppose the government has a $900 billion budget deficit. If the government borrows $560 billion to finance this deficit and finances the rest by printing money, the amount of new money created will be
A) $340 billion. B) $560 billion. C) $900 billion. D) $1,460 billion.
What is the difference between money, income, and wealth?
What will be an ideal response?
The firm would have a better bargaining position in the negotiations if
a. It can hire the non union "scabs" at a better wage b. The union has younger workers who cannot afford to be off work c. The union has a strike fund to pay workers during work stoppage actions d. Only A&B
Owning a patent can always provide a firm with monopoly control of a market.
Answer the following statement true (T) or false (F)