A luxury cruise in the United States Virgin Islands is an example of an ________ good, and a desk calendar is an example of a(n) ________ good.
A) inspection; credence
B) inspection; experience
C) experience; credence
D) experience; inspection
D) experience; inspection
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How are the domestic sellers and buyers of a good affected if a country starts exporting the good?
What will be an ideal response?
Inventions like gunpowder and the wheelbarrow were created by the Chinese hundreds of years ago. The fact that such items were not put to productive use was caused primarily by a lack of ____
a. financial capital b. entrepreneurship c. an adequate price system d. marginal analysis
Public saving is the ______.
a. amount of income households have left after consumption and taxes, plus transfer payments b. amount of income the government has left over after paying for its spending c. theory that government borrowing drives up the interest rate and lowers consumption d. practice of using corporate profits for capital investment rather than dividend payouts
When there is a change in the quantity demanded it means that:
A. the hours the customer can buy products each day have increased. B. the number of products in inventory have increased. C. the quantity a consumer is willing to buy changes when the price changes. D. the selling price of the products has not changed.