In the above figure, as Brendan's income rises his consumption bundle moves from point A to point B. This implies that for Brendan, compact discs are ________ good and haircuts are ________ good

A) a normal; an inferior
B) a normal; a normal
C) an inferior; an inferior
D) an inferior; a normal

A

Economics

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When the marginal product of an additional worker is less than the marginal product of the previous worker, there are ________ returns to labor

A) increasing total B) decreasing total C) increasing marginal D) decreasing marginal E) constant average

Economics

Which of the following statements are true?

A) A bank's assets are its sources of funds. B) A bank's liabilities are its uses of funds. C) A bank's balance sheet shows that total assets equal total liabilities plus equity capital. D) A bank's balance sheet indicates whether or not the bank is profitable.

Economics