An inferior good is a good for which the quantity demanded increases as the price decreases, holding everything else constant
Indicate whether the statement is true or false
FALSE
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The government passed the Economic Recovery Act in October 2008 to prevent the financial crisis from continuing to worsen. A controversial component of this act was the
A) temporary decrease in the federal deposit insurance limit. B) sale of new subprime mortgage assets. C) borrowing of $150 million from AIG. D) Troubled Asset Relief Program (TARP).
A perpetuity is an annuity with a fixed term
a. True b. False
Voluntary trade restrictions by foreign countries on their exports to the United States raise the price domestic consumers pay and also raise the price foreign consumers pay.
a. true b. false
Recall the Application about the price competition between satellite and cable TV services to answer the following question(s).Recall the Application. In most cases where satellite TV service is introduced in an area with cable TV service, if the price of cable TV increases, then consumer surplus (in the cable TV market) usually:
A. increases. B. decreases. C. drops to zero. D. becomes negative.