Which of the following is most likely an inferior good?
a. an antique car
b. gasoline
c. a bus ticket
d. an airline ticket
c
You might also like to view...
To calculate GDP it is necessary to add up the market value of all the ________ produced within a country during a year
A) intermediate goods and services produced and all the final goods and services produced B) intermediate goods and services produced C) goods but not services produced D) final goods and services produced E) goods and services produced
The WLS estimator is called infeasible WLS estimator when
A) the memory required to compute it on your PC is insufficient. B) the conditional variance function is not known. C) the numbers used to compute the estimator get too large. D) calculating the weights requires you to take a square root of a negative number.
Which of the following is true? a. The money supply will tend to fall when the Fed pays a higher interest rate on bank reserves
b. If banks never wanted to hold excess reserves, decreasing the interest rate the Fed pays on reserves would not increase the money supply. c. If banks hold excess reserves, the actual money multiplier would be less than potential money expansion. d. All of the above are true
A manager is attempting to assess the probability of a recession ending in the next six months and its impact on expected profitability. The manager believes there is a 33 percent chance the recession will end in six months and profits will return to $100 million. However, there is a 67 percent chance the recession will not end in six months, resulting in a $7 million loss. The expected profits over the next six months are:
A. $33 million. B. $28.31 million. C. ?$2.31 million. D. $64.69 million.