Which of the following is most likely NOT an example of a normal good?
A. Sports cars
B. Bus travel
C. Lobster
D. Jacuzzis
Answer: B
You might also like to view...
Ralph Nader's book Unsafe at Any Speed caused Congress to require
a. safety glass in all new cars. b. seat belts in all new cars. c. air bags in all new cars. d. stricter drunk driving laws in all states.
The term “human capital” refers to how many people must work to produce a product.
Answer the following statement true (T) or false (F)
Price ceilings are designed to
A) establish a maximum allowable price. B) allow free market prices to be achieved. C) create surpluses where none existed before. D) none of the above.
If the marginal cost curve is below the average variable cost curve, then
A. marginal cost must be decreasing. B. average variable costs are decreasing. C. average variable costs are increasing. D. average variable costs could either be increasing or decreasing.