A positive income elasticity of demand coefficient indicates that:
A. two products are complementary goods.
B. two products are substitute goods.
C. a product is a normal good.
D. a product is an inferior good.
Answer: C
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Which one of the following was designed to create greater equality in debt holdings?
a. savings bonds b. 30-year Treasury securities c. 3-month Treasury bills d. 2-year Treasury note e. sales taxes
Which of the following statements best describes the price, output, and profit conditions of monopoly?
a. Price will equal marginal cost at the profit-maximizing level of output and profits will be positive in the long-run. b. Price will always equal average variable cost in the short-run and either profits or losses may result in the long run. c. All of the answers are correct. d. In the long-run, positive economic profit will be earned.
How are demand-pull and cost-push inflation reflected in terms of the AD-AS model?
What will be an ideal response?
To raise the United States' rate of economic growth, we need more and better _______ as well as more and better ________.
Fill in the blank(s) with the appropriate word(s).