For which of the following goods is the marginal benefit of search likely to be greatest?

Typically, the lower the level of income per person in a country, the lower the level of spending per person on health care. This relationship between income and spending indicates that health care is a

A) luxury. B) inferior good. C) necessity. D) normal good.

Assume that the uncovered interest parity condition holds. Also assume that the U.S. interest rate is less than the U.K. interest rate. Given this information, we know that investors expect

A) the pound to depreciate. B) the pound to appreciate. C) the dollar-pound exchange rate to remain fixed. D) the U.S. interest rate to fall. E) none of the above