Digital cameras and memory cards are:
A. inferior goods.
B. complementary goods.
C. substitute goods.
D. independent goods.
Answer: B
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What are the three main types of markets for financial capital?
What will be an ideal response?
What is the nature of the trilemma that is encountered when choosing monetary arrangements?
A) Only two of the three aspects of internal and external balance can be accommodated simultaneously. B) Only three of the four aspects of internal and external balance can be accommodated simultaneously. C) Only one of the three aspects of internal and external balance can be accommodated simultaneously. D) Only two of the four aspects of internal and external balance can be accommodated simultaneously. E) Only one of the four aspects of internal and external balance can be accommodated simultaneously.
The position of the long-run aggregate supply curve is determined by
A) the long-run aggregate demand curve. B) the production possibilities curve. C) the open economy effect. D) the interest rate effect.
A perfectly price-elastic demand is consistent with which of the following?
a. Inferior goods b. A low cross-price elasticity of demand c. A horizontal demand curve d. Few close substitutes