You lose your job and, as a result, you buy fewer iTunes music downloads. This shows that you consider iTunes music downloads to be a(n)
a. luxury good.
b. inferior good.
c. normal good.
d. complementary good.
c
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Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The charge of dumping electric lawnmowers in the Omegalon market means that Alphonia was accused of
A) selling faulty electric lawnmowers in Omegalon. B) discarding electric lawnmowers which would not sell in their home country. C) selling electric lawnmowers below cost or below domestic prices. D) selling counterfeit-branded electric lawnmowers in Omegalon.
The government expenditure multiplier is the magnification effect of a change in government expenditure on
A) aggregate demand. B) the budget deficit. C) tax receipts. D) aggregate supply. E) potential GDP.
The common currency of the Economic Monetary Union is the
a. franc. b. pound. c. euro. d. mark.
The essence of science is
a. the laboratory experiment. b. the scientific method. c. the study of nature, but not the study of society. d. All of the above are correct.