For some products, purchases tend to decrease as the buyer's income increases. Such products are known as:
a. Normal goods
b. Inferior goods
c. Inverse goods
d. Common goods
Answer: b. Inferior goods
Economics
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The largest proportion of M1 is made up of
A) currency. B) checking account deposits. C) traveler's checks. D) savings account deposits.
Economics
The relationship between consumer spending and income is known as the
A) rate of individual wealth. B) consumption function. C) rate of income. D) inflation rate.
Economics
A decline in money supply will lead to a(n) ________ if nominal wages are rigid
A) increase in labor demand B) fall in real wages C) fall in labor demand D) increase in real output
Economics
Compare and contrast the marginal cost and average cost pricing rules for regulating natural monopolies
What will be an ideal response?
Economics