If incomes are rising, in the market for an inferior good,
a. its price will rise and the quantity exchanged will rise.
b. its price will rise and the quantity exchanged will fall.
c. its price will fall and the quantity exchanged will rise.
d. its price will fall and the quantity exchanged will fall.
d
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The United States was unable to maintain its dominance in the production of televisions because:
A. automated techniques allowed production to be outsourced to countries with less-skilled workers. B. the product designs evolved too rapidly for engineers in the United States to keep up. C. the highly technical skills necessary to produce televisions are greater in other countries. D. the raw materials necessary to build televisions became scarce in the United States.
Emma uses a linear model to forecast quarterly same-store sales at the local Garden Center. The results of her multiple regression is: Sales = 2,800 + 200•T - 350•D where T goes from 1 to 16 for each quarter of the year from the first quarter of 2006 (‘06I) through the fourth quarter of 2009 (‘09 IV). D is a dummy variable which is 1 if sales are in the cold and dreary first quarter, and
zero otherwise, because the months of January, February, and March generate few sales at the Garden Center. Use this model to estimate sales in a store for the first quarter of 2010 in the 17th month; that is: {2010 I}. Emma's forecast should be: a. 5,950 b. 6,200 c. 6,350 d. 6,000 e. 5,850
Inflation is primarily a problem
a) because even low inflation rates severely hamper GDP growth b) for those who are heavily indebted c) when it is volatile and thus unpredictable d) because it is severely underestimated, especially when products are improving in quality e) for accounting and record-keeping, but it does not affect the actual trading of goods and services
In the United States, price ceilings on human organs have caused an increase in demand.
Answer the following statement true (T) or false (F)