During economic expansions, banks tend to lend less money because of higher interest rates
Indicate whether the statement is true or false
F
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If x increases whenever y decreases, then x and y are
A) not related. B) positively related. C) directly related. D) negatively related. E) related but whether positively or negatively related depends on whether the x variable or the y variable is plotted on the vertical axis.
The optimal bidding strategy in a first-price sealed-bid auction is identical to the optimal bidding strategy in a(n) ________ auction
A) open-outcry English B) open-outcry Dutch C) second-price sealed-bid D) dollar
If the demand for farm products is income elastic, that would mean that farm products were a necessity
Indicate whether the statement is true or false
Rank these three items in terms of the elasticity of the demand for them at any given price, from most elastic to least elastic: hot beverages, coffee and Peet's Coffee
A) hot beverages, coffee, Peet's Coffee B) coffee, Peet's Coffee, hot beverages C) Peet's Coffee, coffee, hot beverages D) coffee, hot beverages, Peet's Coffee