People buy more of good 1 when the price of good 2 rises. These goods are
A) complements.
B) substitutes.
C) normal goods.
D) inferior goods.
B
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Suppose that the legislature of the democratic republic of Marina proposes a 10 percent national income tax to be used to fund universal health care, literacy, and access to the justice system for all citizens. Which of the following categories best fits this proposed legislation?
a. Traditional public goods legislation b. Special-interest legislation c. Competing-interest legislation d. Populist legislation
The sacrifice of an alternative is called:
A) revenue. B) benefit. C) opportunity cost. D) production.
The data points on a supply curve come from
A. the same place from which we get the data points on a demand curve. B. the supply schedule. C. companies' annual reports. D. survey analysis.
The Consumer Price Index is a measure of the average of the prices paid by ________ for a fixed basket of consumer goods and services
A) urban consumers B) all consumers C) urban wage earners and clerical workers D) consumers living in cities with a population greater than 100,000