As the economy recovers from a recession, we should expect that demand for:
a. inferior goods will fall and demand for non-inferior goods will rise.
b. all goods will rise.
c. inferior goods will rise and demand for non-inferior goods will fall.
d. all goods will fall.
e. complements will fall.
a
You might also like to view...
Total expenditure in the United States is equal to consumption expenditure plus investment
A) plus government expenditure on goods and services plus imports of goods and services. B) minus government expenditure on goods and services minus imports of goods and services. C) plus government expenditure on goods and services plus exports of goods and services. D) plus government expenditure on goods and services plus exports of goods and services minus imports of goods and services. E) plus government expenditure on goods and services plus exports of goods and services plus imports of goods and services.
In the short run, if average variable costs equal $45, average total costs equal $50, and output equals 100, the total fixed costs will equal
a. $5. b. $500. c. $1,000. d. $5,000.