This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the demand for fast-food rises as a result of lower income, we would say fast-food is an inferior ... (Read 308 times)

CharlieWard

  • Hero Member
  • *****
  • Posts: 578
on: Jun 30, 2018
If the demand for fast-food rises as a result of lower income, we would say fast-food is an inferior good.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Ben N. Jerry prefers to keep his 10,000 retirement savings buried in the backyard. After an increase in the price level, Ben reduces the amount of goods and services he wants to purchase. Ben's rationalization, that now his retirement savings won't buy as much, is consistent with which explanation of the aggregate demand curve's negative slope?
 a. the interest rate effect
 b. the open economy effect
  c. the inflation effect
 d. the wealth effect


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

aidanmbrowne

  • Sr. Member
  • ****
  • Posts: 305
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

d


CharlieWard

  • Hero Member
  • *****
  • Posts: 578
Reply #2 on: Jun 30, 2018
Thank you :)


aidanmbrowne

  • Sr. Member
  • ****
  • Posts: 305
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Range of Motion of the Temporomandibular Joint, Pushing Out the Lower Jaw Range of Motion of the Temporomandibular Joint, Pushing Out the Lower Jaw
Distribution of the Income of Americans Distribution of the Income of Americans
Broadening effleurage to lower leg. Place heels of the hands together over tibia (no pressure over ... Broadening effleurage to lower leg. Place heels of the hands together over tibia (no pressure over ...
Knead accessible lower leg muscles; alternate with effleurage. Knead accessible lower leg muscles; alternate with effleurage.
Food choices vs. energy choices Food choices vs. energy choices
Thanks to agricultural advances, the world’s farmers can grow plenty of food Thanks to agricultural advances, the world’s farmers can grow plenty of food
Video: Brain Anatomy Animation (Part 2 of 2)

For a complete list of videos, visit our video library