People take fewer trips by airplane when their incomes fall because of a recession. Trips by airplane must be
A) a normal good.
B) an inferior good.
C) a substitute for other goods.
D) a complement to other goods.
E) an inelastic good.
A
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Market demand curves are obtained by
A) observing the behavior of an individual consumer in a market. B) observing the prices and quantities sold in a market over time and plotting those price-quantity combinations in a graph. C) averaging the quantities every consumer is willing to buy at each different price. D) summing the quantities every consumer is willing to buy at each different price. E) determining the price each consumer is willing to pay for the good and summing those prices across all consumers.
What do we call financial institutions through which savers can indirectly provide funds to borrowers?
a. stock markets b. financial institutions c. financial markets d. financial intermediaries