Assuming that generic brands are inferior goods, an increase in consumer income, other things being equal, will cause a(n):
a. leftward shift in the demand curve for generic goods.
b. downward movement along the demand curve for generic goods.
c. rightward shift in the demand curve for generic goods.
d. upward movement along the demand curve for generic goods.
a
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The change in wealth during a period equals:
A. public saving + private saving - transfers. B. saving - investment + capital gains - capital losses. C. saving - capital gains + capital losses. D. saving + capital gains - capital losses.
The gravity model offers a logical explanation for the fact that
A) trade between Asia and the U.S. has grown faster than NAFTA trade. B) trade in services has grown faster than trade in goods. C) trade in manufactures has grown faster than in agricultural products. D) Intra-European Union trade exceeds international trade by the European Union. E) the U.S. trades more with Western Europe than it does with Canada.
Interest is paid to
A) all holders of stock. B) individuals who own gold. C) owners of capital. D) borrowers of funds.
Economic theory suggests that the standard of living of American workers would rise if:
a. the minimum wage were doubled. b. older workers were forced to retire earlier, opening up jobs for younger workers. c. people bought only American products. d. the knowledge and skills of workers improved