The income elasticity of a Giffin good
A. is negative.
B. is zero.
C. is positive.
D. cannot be specified without more information.
Answer: A
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In an indifference curve/budget line diagram, a consumer's equilibrium consumption combination will occur
A) inside the budget line. B) outside the budget line. C) on the budget line. D) at the origin.
The burden of debt is borne by future generations.
A. True B. False C. Uncertain
Incomes policies are based on discretionary monetary and fiscal policies
a. True b. False Indicate whether the statement is true or false
The strategy for the Bertrand model is
A. to take account of the effect of its own behavior on the rival firm's quantity choice. B. to sell a marginally higher quantity of goods than the rival. C. collusion. D. to sell at a marginally lower price than the rival but not below marginal cost.