When there is a tendency for a particular product to come into favor with additional consumers because other consumers have chosen to purchase the product
A. there is no dominant strategy.
B. negative market feedback occurs.
C. a price war must result.
D. positive market feedback occurs.
Answer: D
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Which of the following is NOT a true statement about the Lorenz curve?
A) The Lorenz curve includes both money income and income in kind. B) The Lorenz curve does not include unreported income obtained from the underground economy. C) The Lorenz curve does not consider different sizes of households. D) The Lorenz curve does not consider age differences among wage earners.
Between 1864 and 1900, the largest portion of railroad track (as a percentage of total annual construction) was laid in which region of the U.S.?
a. the Southeast b. the Northeast c. the Pacific Northwest d. the Great Plains region
The risk of a borrower defaulting on a loan is known as:
A. default risk. B. credit risk. C. loan risk. D. asset risk.
If your bank pays you 6% interest on a savings account and inflation is 2%, your approximate real rate of interest is
A) 2%. B) 4%. C) 8%. D) 12%.