Suppose the demand for widgets is given by QD = 100 - 5p - pd + 2Y, where Y is average consumer income, p is the price of lemons, and pd is the price of doodads. According to this equation, widgets are an inferior good
Indicate whether the statement is true or false
False . As income increases, because of the positive coefficient (+2 ) for income, demand will increase. This indicates widgets are normal.
Economics
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Operations of the Trading Desk of the Federal Reserve Bank of New York are typically conducted
A) no more often than once per week. B) within a one-hour period during each day. C) no more often than once per month. D) once a year.
Economics
In the Case in Point on economic growth prospects for the United States, economist Robert Gordon expects for the near future:
A) A period of robust growth. B) A period of secular stagnation. C) A period of no growth. D) A period of no technological innovation.
Economics