Use the above table. Based on the information in the table, artisan bread is a(n)
A. inferior good.
B. negative good.
C. necessary good.
D. normal good.
Answer: D
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What happens when the Fed sells government bonds?
A) The money supply tends to rise. B) The money supply tends to remain unchanged. C) The money supply tends to fall. D) The U.S. budget deficit necessarily rises.
From a firm’s point of view, unionized labor might _______________ because union workers tend to stay longer at a job.
a. increase productivity b. drive wages down c. decrease productivity d. drive the company out of business
A binding price floor may not help all sellers, but it does not hurt any sellers
a. True b. False Indicate whether the statement is true or false
DeBeers' diamond monopoly results from
A. a patent. B. economies of scale. C. a government franchise. D. ownership of a scarce factor of production.