A Giffen good is one for which the quantity demanded rises as the price rises because the income effect
a. reinforces the substitution effect.
b. reinforces and is greater than the substitution effect.
c. counteracts but is smaller than the substitution effect.
d. counteracts and is greater than the substitution effect.
d
Economics
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Generally, investors expect that projects with high expected net present values also will be projects with
a. low risk b. high risk c. certain cash flows d. short lives e. none of the above
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The most important indirect taxes in the United States are
a. federal and state income taxes. b. inheritance taxes. c. corporate profits taxes. d. sales and property taxes.
Economics