An example of derived demand in the auto industry is the demand for:
A. New automobiles
B. Used automobiles
C. Auto workers
D. Drivers' insurance
C. Auto workers
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The marginal propensity to save is 0.2. Equilibrium real GDP will decrease by $50 billion if aggregate expenditures schedule decrease by
A. $15 billion. B. $10 billion. C. $16 billion. D. $40 billion.
Which statement best summarizes the perspective from which economic theory explains social occurrences? Economic theory assumes
A) gains and losses will eventually cancel out. B) individuals make choices consistent with their goals. C) the law of averages holds in the long run. D) the value of anything is equal to its price. E) whatever people want is what they ought to be able to buy.
The output at which average variable cost is a minimum is ________ than the output at which ________ is a minimum
A) the same as; average total cost B) the same as; marginal cost C) less than; average total cost D) less than; marginal cost
One of the characteristics of financial repression is
(a) negative real interest rates. (b) lack of credit rationing. (c) capital flowing to the highest rate of return. (d) all of the above. (e) none of the above.