For a ____, if incomes rise and prices do not change, quantity demanded will increase
a. normal good
b. inferior good
c. Giffen good
d. substitute good
a
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
Government-sponsored goods are those goods
A) that society views desirable through the political process. B) that companies give away as promotional prizes. C) that have lower than average negative externality. D) that only low-income individuals consume.
In 2017, new bond issues and other forms of debt totaled ____ in corporate financing.
A. $650 billion B. $876 billion C. $1 trillion D. ?$2 billion
The price at which a monopolistic competitor sells its product in both the long run and the short run is equal to:
A. average revenue. B. marginal cost. C. marginal revenue. D. average total cost.