A "search good" is:
a. One that depends on how the product behaves over time
b. A product whose quality is only found out over time by finding how durable it is
c. Like a peach that can be examined for flaws
d. Like a used car, since it is easy to determine its inherent quality
e. None of the above
c
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According to the above figure, at an income level of Y1,
A) the economy saves an amount equal to BD. B) the economy dissaves an amount equal to BD. C) the average propensity to save is greater than one. D) the marginal propensity to save is falling.
In 2012, the capital account in the U.S. balance of payments was in:
A. deficit, and larger than the current account deficit. B. surplus, and larger than the current account surplus. C. balance, with no deficit or surplus. D. deficit, and smaller than the current account deficit.