If an individual has a 0.3 probability of receiving $10 and a 0.7 probability of receiving $20, the expected income is

Rolls Royce may actually sell fewer cars at lower prices due to the "snob effect."

a. True b. False Indicate whether the statement is true or false

Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.

A. D; C B. D; B C. A; B D. B; C