For almost all goods, the:
A. higher the price goes, the higher the quantity demanded.
B. lower the price goes, the higher demand is.
C. higher the price goes, the more luxurious it is.
D. lower the price goes, the higher the quantity demanded.
Answer: D
You might also like to view...
All of these could be sources of economies of scale except
a. Investment in more efficient technology b. Specialization c. A bottleneck procedure d. Discounts on bulk purchase of inputs
When inflation occurs, consumers
a. realize gains in their wealth. b. increase spending to catch up with higher prices. c. automatically shift the consumption line upward. d. suffer a decrease in real wealth.
As of December 31, 2010, the assets listed on the balance sheet of Bank A were: $1.5 million in cash reserves, and $6 million in outstanding loans to its customers. Its liabilities totaled $6.5 million in checking deposits. What was the bank's net worth on that date?
a. $1 million b. $4.5 million c. $5 million. d. $14 million. e. Zero
Which of the following statements is true of the official classification of money? a. Currency is a component of M1, not M2
b. Traveler's checks is a component of M1, not M2. c. M2 includes demand deposits as well as saving accounts. d. M2 excludes demand deposits and saving accounts.