A normal good is one:
a. Which all people like
b. For which demand increases when income increases
c. For which demand increases when price decreases
d. Which all normal people like
b. For which demand increases when income increases
You might also like to view...
Limiting protectionism means
A) reducing political dishonesty. B) reducing consumer fraud. C) reducing trade barriers. D) reducing corruption.
Excess capacity arises when firms cannot sell all of their output at the current market price
a. True b. False
Josh is a full-time college student who is not working or looking for a job. The Bureau of Labor Statistics counts Josh as
a. unemployed and in the labor force. b. unemployed but not in the labor force. c. in the labor force but not unemployed. d. neither in the labor force nor unemployed.
If gross investment in 2016 is $750 billion and depreciation in 2016 is $850 billion, net investment in 2016 is
A. -$50 billion. B. -$100 billion. C. -$800 billion. D. -$1,600 billion.