Refer to Figure 6-9. The data in the diagram indicates that DVDs are
A) luxury goods.
B) inelastic goods.
C) necessities.
D) both luxury goods and inelastic goods.
E) both necessities and inelastic goods.
A
Economics
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As the economy turns the corner into a recession, the level of unplanned inventories ________ and firms ________ production
A) increases; do not change B) decreases; begin to decrease C) increases; begin to decrease D) decreases; begin to increase E) increases; begin to increase
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If the economy is in the expansion phase of a business cycle and investment increases, when the multiplier effect kicks in, the expansion
A) is not effected. B) peaks. C) picks up speed. D) reverses. E) slows down.
Economics