Which term describes a good in which the quantity demanded rises as income rises, and in which quantity demanded falls as income falls?
a. Complement good
b. Inferior good
c. Normal good
d. Superior good
c. Normal good
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In the short-run macroeconomic equilibrium
A) real GDP equals potential GDP and aggregate demand determines the price level. B) the price level is fixed and short-run aggregate supply determines real GDP. C) real GDP and the price level are determined by short-run aggregate supply and aggregate demand. D) real GDP is always less than potential GDP.
A heterodox model would not call for freezing wages and prices, but an orthodox one would
Indicate whether the statement is true or false
Show graphically and explain the profits and losses of buying futures relative to buying call options
What will be an ideal response?
Ala carte cable service could overcome inefficient motives that arise when programs can be bundled by cable service providers
Indicate whether the statement is true or false