If a good has a negative income elasticity of demand, this indicates that the good is
A) normal. B) a substitute with another good.
C) inferior. D) a complement with another good.
C
Economics
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What happens during a bank run?
a. The government orders a bank to close. b. States charter more banks than needed. c. The price of gold suddenly increases. d. More customers withdraw money than the bank has on hand.
Economics
The ________, the ________ is the quantity of real GDP supplied and the ________ is the quantity of real GDP demanded
A) lower the price level; greater; smaller B) lower aggregate demand; greater; smaller C) higher the price level; greater; smaller D) lower the supply of labor; greater; smaller E) greater the demand for labor; smaller; greater
Economics