If the economy is in recession and the number of used baby clothing stores increases, then used baby clothes
a. are a necessity
b. are an inferior good
c. are a normal good
d. are a luxury
e. have price-elastic demand
B
Economics
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In the simple Keynesian cross model with no government or foreign sectors, at the equilibrium level of output
A) saving is less than investment. B) saving is equal to investment. C) saving is greater than investment. D) saving is equal to zero.
Economics
Refer to the scenario above. If Jack has to decide between the number of paintings and sculptures he wants to make in the given time, which of the following will best represent his options?
A) A budget constraint B) Isoquants C) A production possibilities curve D) A supply curve
Economics