Goods that are income elastic are often referred to as luxury goods
Indicate whether the statement is true or false
F
You might also like to view...
What two parts of the government determine the federal budget?
A) the Congress and the President B) the Congress and the Federal Reserve C) the Federal Reserve and the FOMC D) the U.S. Treasury and the Federal Reserve E) the President and the Federal Reserve
Which of the following is an example of predatory pricing?
A. In order to buy Microsoft Windows, you must also purchase Internet Explorer. B. Bus rides are cheaper for senior citizens than for other people. C. Prices are set low enough to drive other firms out of a market. D. Prices are set just high enough to prevent other firms from entering the market.
Assumptions in models tend to make
A. the model more realistic. B. the model predict what the scientist wants the results to be. C. the model more applicable to specific circumstances. D. the model always predict the future accurately.
A category of assets for banks is cash items in the process of collection. This is:
A. payments from the FDIC insurance fund due the bank. B. uncollected funds the bank is due to receive from the clearing of checks. C. currency the bank is due from the Treasury. D. late fees the bank is owed from loan payments that were not made on time.