Goods that are similar but are not perfect substitutes are called ________ goods
A) differentiated
B) homogeneous
C) normal
D) inferior
A
Economics
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If the velocity of money is constant, then nominal GDP can change only if there is a change in the money supply.
a. true b. false
Economics
Which of the following statements is FALSE?
A. An increase in income causes the demand curve for an inferior good to shift to the right. B. An increase in income causes an increase in the demand for a normal good. C. An increase in income causes a decrease in the demand for an inferior good. D. A decrease in income causes the demand curve for a normal good to shift to the left.
Economics