Suppose that frozen dinners were once a normal good for John, but now frozen dinners are an inferior good for him. John's demand curve for frozen dinners
A) has become steeper as a result.
B) has become flatter as a result.
C) has not changed as a result.
D) has disappeared as a result.
A
Economics
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Which of the following is included in the government expenditure component of the expenditure approach to GDP?
A) state government expenditure on local schools B) transfer payments C) changes in inventories D) taxes
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A good example of a price floor is
a. rent controls on rental apartments in major cities b. the cheapest tickets to concerts c. the minimum wage law d. food stamps provided to low-income people who use them to purchase specific basic foods at retail stores, such as corner groceries and supermarkets e. discount airfares
Economics