When the price of a hot dog rises 10 percent, your expenditure on hot dogs increases. Hence, it is certain that
A) hot dogs are a normal good for you.
B) hot dogs are an inferior good for you.
C) your demand for hot dogs is elastic.
D) your demand for hot dogs is inelastic.
D
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Which point shows where the United States economy was operating during the low point of the Great Depression?
A. Point A
B. Point B
C. Point C
D. Point D
How much does the money supply change if the reserve requirement rate is 20% and excess reserves are $5 million?
a. $50 million b. $1 million c. $10 million d. $25 million
Generally, if a nation imposes a tariff on imports,
A. part of the tax is paid by foreign exporters. B. the entire tax is paid by foreign exporters. C. none of the tax is paid by foreign exporters. D. the tax has no impact on the profits of foreign exporters.
If there is an increase in the amount of good B foregone as every additional unit of good A is produced, the PPF between goods A and B would
What will be an ideal response?