If the demand for computers increases as consumers' incomes rise, then computers are:
A. a complementary good.
B. an inferior good.
C. a substitute good.
D. a normal good.
Answer: D
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If the multiplier in the economy is 3, the marginal propensity to save (MPS) must be
A) 3. B) 0.67. C) 0.33. D) 1.
Big Mowers is a firm selling large farm equipment. To attract new customers they are running a promotion in which customers are asked to guess the number of raw corn kernels in a gallon bucket. It is free for a customer to guess and if they get the exact number of kernels correct, they win a $200,000 lawn tractor. Big Mowers is running the promotion for a week and the probability a customer gets
the exact number of kernels correct during that one week is 0.001. What is the expected cost of the promotion? A) $200 B) $2 C) $20 D) $2,000
In order to make an optimal choice we must use
a. percentage analysis. b. total analysis. c. average analysis. d. marginal analysis.
Flow?