College students living off-campus frequently consume large amounts of ramen noodles and boxed macaroni and cheese. When they finish school and start careers, their consumption of both goods frequently declines. This suggests that ramen noodles and boxed
macaroni and cheese are:
A. inferior goods.
B. normal goods.
C. complementary goods.
D. substitute goods.
Answer: A
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Refer to Figure 9.7. Without counting any government payments received by firms, as a result of this policy the producer surplus earned on the units sold in the market
A) rose by $15,000. B) rose by $20,000. C) rose by $40,000. D) fell by $5,000. E) fell by $45,000.
Only a change in the price level can cause a movement from one point to another point along a given aggregate demand curve
Indicate whether the statement is true or false
If the wage rate were $335, how many workers would be hired?
Suppose you decide to borrow money from an online peer-to-peer lending site. On the T-account for the funder of the loan for this transaction, the funds from the investor would be classified as ________, and the loan made to you would be classified as
________. A) an asset; an asset B) an asset; a liability C) a liability; an asset D) a liability, a liability