Refer to the information provided in Figure 3.3 below to answer the question(s) that follow.
Figure 3.3Refer to Figure 3.3. As your income decreased, the demand for X shifted from D1 to D2. Good X is
A. an inferior good.
B. a luxury good.
C. an income-neutral good.
D. a normal good.
Answer: D
You might also like to view...
As a general rule, you would be unwise to keep a deposit at an FDIC-insured bank in an amount greater than
A. 20 percent of the bank’s reserves. B. $1,000,000. C. $250,000. D. an infinite amount; there is no limit.
If the government sets the price below the equilibrium price there will be:
a. a shortage b. a surplus c. people who buy and are therefore worse off than if they bought at the equilibrium price d. producers who sell and are therefore better off than if they sold at the equilibrium price e. none of the above
Which department or office typically administers selection tests for police officers?
A) public information office B) county attorney's office C) human resources department D) auditing department
The Fed is considering eliminating
A) primary credit lending. B) secondary credit lending. C) seasonal credit lending. D) its lender of last resort function.