The income elasticity of demand for used cars is less than zero, so used cars are
A) an inferior good.
B) a normal good.
C) an inelastic good.
D) a perfectly inelastic good.
E) a substitute good.
A
Economics
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When total utility is at a maximum, marginal utility is zero.
a. true b. false
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In the Keynesian model, when is the economy in short-run equilibrium?
a. when there is no inflation b. when there is full employment c. when there is a balanced federal budget d. when total spending (demand) is equal to production (supply)
Economics