Which kind of good might not be bought when prices rise?
(A) Substitute
(B) Inferior good
(C) Complement
(D) Luxury
Ans: (D) Luxury
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What takes place in the indirect finance market?
A) Corporate and government bonds are sold to savers. B) Government purchases of buildings and equipment are sold to the highest bidder. C) Part ownership of corporations is sold in the form of stocks. D) Deposits of savers are accepted and lent to borrowers.
If we think of good governance as a public good created by well-informed voters, we can predict that it will be:
A. oversupplied. B. undersupplied. C. in market equilibrium, if left unchecked. D. in market equilibrium, despite market interference.
Refer to the information provided in Table 13.1 below to answer the question(s) that follow. Table 13.1Price ($)Quantity4.002,0003.502,4003.002,8002.503,2002.003,6001.504,0001.004,400Refer to Table 13.1. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $1 per unit of providing the product, what is the level of output that would maximize its profits?
A. 2,000 B. 2,400 C. 2,800 D. 3,200
Macroeconomics can best be described as the:
What will be an ideal response?