Suppose that tattoos gained immense popularity with retired people as well as college students. This gain in popularity best reflects which of the following influences on buying plans?
A) the price of a substitute good
B) income
C) expectations
D) preferences
E) the price of a complement good
D
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Bruce Copperwood's utility of wealth curve is illustrated in the above figure. Bruce is presently employed at a salary of $100,000. There is a 10 percent probability that Bruce will be totally disabled, in which case he will have no wealth
An insurance company (with no operating expenses) would be willing to offer Bruce a disability insurance policy paying $100,000 in the case of total disability for a minimum premium of A) $1,000. B) $10,000. C) $20,000. D) None of the above answers is correct.
Households constitute the demand side of a labor market
a. True b. False Indicate whether the statement is true or false
When there is a negative output gap, the unemployment rate
A. remains steady. B. rises. C. falls. D. is also negative.
The statement, "My iPhone is worth $700" represents money's function as
A) a medium of exchange. B) a unit of account. C) a store of value. D) a standard of deferred payment.