If an increase in income leads to a decrease in the demand for popcorn, then popcorn is
A) an inferior good.
B) a neutral good.
C) a necessity.
D) a normal good.
Answer: A
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The United States typically experiences a large surplus of milk annually. This is caused by
A. a price ceiling in the market. B. not enough demand for milk. C. a price floor in the market. D. overproduction of milk by the cows.
OLS is biased and inconsistent when applied to a structural equation in a simultaneous equations system.
Answer the following statement true (T) or false (F)
If a bank's reserve ratio is increasing,
A. reserves must be increasing. B. the rate of change in deposits must exceed the rate of change in reserves. C. deposits must be decreasing. D. the rate of change in reserves must exceed the rate of change in deposits.
A corporation is owned by its
A) board of directors. B) stockholders. C) employees. D) CEO.