In Table 1, pizzas are classified as a(n)
A) normal good.
B) positive good.
C) inferior goods.
D) marginal good.
C
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A central bank is
A) an international bank. B) the largest bank in the country. C) a banker's bank. D) the largest bank in the country's capital.
Refer to Scenario 17.4. If there is no flood insurance and the flood control system is in place, the expected loss from a flood is
A) $5,000. B) $10,000. C) $100,000. D) $200,000. E) $1,000,000.
Alicia makes the statement that everytime she eats chocolate, it gives her acne. By ignoring the possibility that there may be another factor that causes Alicia to eat chocolate and which also causes her acne, Alicia is commiting the
a. fallacy of composition b. fallacy that association is causation c. fallacy of segmentation d. mistake of ignoring secondary effects e. mistake of looking beyond the obvious
Suppose stock prices rise. To offset the resulting change in output the Federal Reserve could
a. increase the money supply. This increase would also move the price level closer to its value before the rise in stock prices. b. increase the money supply. However, this increase would move the price level farther from its value before the rise in stock prices. c. decrease the money supply. This decrease would also move the price level closer to its value before the rise in stock prices. d. decrease the money supply. However, this decrease would move the price level farther from its value before the rise in stock prices.