Why is a good considered to be inferior by economists?
a. The change in income and the change in demand move in opposite directions.
b. The product has poor quality, thereby lowering demand.
c. The change in income and the change in demand move in the same direction.
d. The product’s demand decreases despite its high quality.
a. The change in income and the change in demand move in opposite directions.
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Net public debt is the
A) difference between tax revenues and government expenditures each year. B) sum of accumulated government deficits and surpluses held by individuals and businesses and foreign institutions. C) sum of accumulated government deficits and surpluses held by U.S. government agencies. D) sum of accumulated government deficits and surpluses held by large money center banks.
Campaign speeches normally include normative economic statements
Indicate whether the statement is true or false