Which of the following is a good that might not be bought when prices rise?
a) complement
b) substitute
c) inferior good
d) luxury
Ans: d) luxury
Economics
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Which of the following statements is the MOST accurate? In general
A) the monetary approach to the exchange rate is a long run theory. B) the monetary approach to the exchange rate is a short run theory. C) the monetary approach to the exchange rate is both a short and long run theory. D) the monetary approach to the exchange rate neither long run nor short run theory. E) the monetary approach to the exchange rate is considered less practical than the law of one price.
Economics
Who determines the open-market operations of the Federal Reserve System?
A) Board of Governors B) FDIC C) FHLBB D) FOMC
Economics