If the income-consumption path slopes upward, then:
A. both goods are normal goods.
B. both goods are inferior goods.
C. the goods are substitutes.
D. the goods are complements.
A. both goods are normal goods.
Economics
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The distinction between physical and financial capital is that
A) physical capital is equal to financial capital minus depreciation. B) financial capital depreciates and physical capital does not. C) the value of financial capital depends on the amount of available physical capital. D) physical capital is equal to financial capital plus depreciation. E) financial capital is used to purchase and operate physical capital.
Economics
The difference between bid (buying) rates and ask (selling) rates is called the
A) profit. B) arbitrage. C) spread. D) forward transaction.
Economics