If an increase in income leads to a decrease in the demand for popcorn, then popcorn is
A) a necessity. B) a normal good. C) an inferior good. D) a neutral good.
C
You might also like to view...
Wages that are above the wage that workers would accept, where the premium is paid to increase worker productivity, are referred to as:
A) wage floors. B) wage ceilings. C) efficiency wages. D) productivity wages.
The relationship between the price level and net exports is:
A. negative. B. positive. C. perfectly correlated. D. uncorrelated.
Unrestrained monopolies are criticized because they restrict output and reduce innovation.
Answer the following statement true (T) or false (F)
We have two players A and B, where A can go L or R, and B can go T, B, or R. The payoffs are decided after this. Which of the following is a characteristic of such games?
A. Backward induction B. Simultaneous moves C. Dominant strategies D. Sequential moves