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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The table gives information about the economy of Japan. The economic growth rate in 1997 is ________ percent
A) 8.0 B) 0.8 C) 0.08 D) 0.008 E) 4
The difference in unemployment rates between Europe and the U.S. has been narrowing partly because
a. tax rates in European countries are generally lower. b. economic conditions in Europe and the U.S have been converging. c. European and American labor unions have been coordinating their activities. d. of a change in labor market policies. e. Europe has been making it easier for workers to gain unemployment benefits
Fiona consumes pizzas and soda with her weekly income of $50 . Suppose pizzas cost $10 and sodas cost $2 . If the price of pizzas rises to $12, then her opportunity cost of consuming a pizza will increase to: a. 5 sodas
b. 6 sodas. c. 10 sodas. d. 12 sodas.
If total utility increases when you consume more of a good, then marginal utility must also be increasing as consumption rises.
a. true b. false