If macaroni and cheese is an inferior good, then a decrease in income will result in
A) an increase in the demand for macaroni and cheese.
B) a decrease in the demand for macaroni and cheese.
C) an increase in the supply of macaroni and cheese.
D) a decrease in the supply of macaroni and cheese.
A
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The period of time over which all inputs are variable is the
A) market horizon. B) short run. C) calendar year. D) long run.
The health savings account (HSA):
a. is also called a health reimbursement arrangement (HRA). b. is funded with after-tax dollars. c. allows its owner to ignore high medical care prices. d. is often used in conjunction with a high-deductible health plan (HDHP). e. can be used to cover non-medical spending without penalty.
For almost all goods, the:
A. lower the price goes, the more luxurious it is. B. higher the price goes, the higher the quantity supplied. C. higher the price goes, the more luxurious it is. D. lower the price goes, the higher the quantity supplied.
Building roads, power generators, and irrigation systems are projects that are referred to as
A. human capital. B. social overhead capital. C. physical capital. D. financial capital.