All quasilinear goods are necessities.
Answer the following statement true (T) or false (F)
True
Rationale: Consumption of quasilinear goods does not depend on income --- which means that, as income increases, consumption does not change. Necessities are goods whose consumption increases by less than the percentage increase in income, which is true if consumption does not change at all with income.
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If you split your dessert with your date, you are using a ________ allocation method
A) first-come, first-served B) sharing equally C) contest D) personal characteristics E) command
If the government is running a cyclically adjusted budget deficit, ________ fiscal policy is ________ because aggregate expenditure is increasing
A) discretionary; contractionary B) discretionary; expansionary C) expansionary; ineffective D) contractionary; appropriate