A good is inferior if which of the following is true?
What will be an ideal response?
When income increases, the demand decreases.
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A Dutch auction is a(n) ________
A) sealed-bid first-price auction B) sealed-bid second-price auction C) penny auction D) open outcry auction
In the long-run ISLM model and with everything else held constant, as long as the level of output ________ the natural rate level, the price level will continue to ________, shifting the LM curve to the ________, until finally output is back at the
natural rate level. A) exceeds; rise; right B) exceeds; rise; left C) remains below; fall; left D) remains below; rise; right
The guiding principle for the conduct of monetary policy that held that as long as loans were being made for "productive" purposes, then providing reserves to the banking system to make these loans would not be inflationary became known as the
A) free reserves doctrine. B) Benjamin Strong doctrine. C) efficient liquidity doctrine. D) real bills doctrine.
Given the amount of time and other costs of investing in human capital that it takes to earn a Ph.D., why are college professors paid less than other occupations that require similar or lesser amounts of human capital?