In the economic way of thinking, private property rights provide people with
A) rules of the game.
B) dependable information.
C) incentives.
D) none of the above.
E) all of the above.
E
Economics
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Personal consumption expenditures include all of the following EXCEPT spending on
A) consumer durable goods. B) consumer nondurable goods. C) consumer services. D) new housing.
Economics
The figure above shows the market for airline tickets. If airline tickets are a normal good, then the recession in 2008 that caused people's incomes to decrease lead to a shift from
A) D0 to D1. B) D1 to D0. C) S0 to S1. D) S1 to S0.
Economics