Which of the following is most likely to be an inferior good?
a. airline travel
b. restaurant meals
c. a subscription to the Wall Street Journal
d. soft drinks
e. used clothing
E
Economics
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Scott and Cindy both produce only pizza and tacos. In one hour, Scott can produce 20 pizzas or 40 tacos. In one hour, Cindy can produce 30 pizzas or 40 tacos. Cindy's opportunity cost of producing 1 taco is
A) 3/4 of a pizza. B) 1 pizza. C) 30 pizzas. D) 40 pizzas. E) 1 1/3 tacos.
Economics
Governments have often intervened in financial markets because they believed that
a. interest rates were too low b. competition among banks leads to poor services c. bank lending was favoring lucrative projects at the expense of crucial development needs d. too much foreign money was entering their financial systems e. all of the above
Economics