Explain the types of goods

Assignment Help Macroeconomics
Reference no: EM13199112

Due to an increase in her rent, Isa needs to cut back her spending on other items. Which of the following types of goods will Isa consume less of? 

A. substitutes 
B. normal goods 
C. inferior goods 
D. complements

Reference no: EM13199112

Questions Cloud

Making stained glass-playing medieval musical instrument : Making stained glass, Playing a medieval musical instrument (such as the recorder), Applying gold leaf to a manuscript page
What is the average cost : A book company spends $1,000 per week on rent for its factory. Each book made at the factory requires $2 worth of paper and $8 worth of labour and energy. Answer the following questions assuming that the factory produces 500 books per week.
How closely do real world conditions match characteristics : Choose a market for a good in your area that seems to be a perfectly competitive market. Write four or five substantive paragraphs that describes the market and answers the following questions: Identify the buyers and sellers as well as the goods o..
Data entry screen for an accounting system : what are some specific issues that need to be addressed when examining the trade-offs of the benefits of electric power production against the costs of increased health problems in portions of the population?
Explain the types of goods : Due to an increase in her rent, Isa needs to cut back her spending on other items. Which type of goods will Isa consume less of.
Principles of unity and variety apply to all music : The principles of Unity and Variety apply to all music, regardless of composition style or historical period.
Explain strategies specifically relate to your career goals : What strategies you will implement in terms of your career development and how these strategies specifically relate to your career goals and advancement.
Going to fall into the ocean : In recent times, false rumors have spread suggesting that California is "going to fall into the ocean." In order for this to be true, the San Andreas fault would have to be a ________ fault associated with _______ forces.
Define and explain the dynamic tension : Describe and explain the dynamic tension and mutual influence between society and technology, and the influences of knowledge and power on humankind

Reviews

Write a Review

Macroeconomics Questions & Answers

  What effects would this philosophy have on the size

Some states are required to balance their budgets. Is this measure stabilizing or destabilizing Suppose all states were committed to a balanced budget philosophy and the economy moved into a recession. What effects would this philosophy have on th..

  What is the average total cost of production

Your firm operates three plants. The cost functions vary across the three plants. Plant A: Marginal Cost = 6Q Average Variable Cost = 3Q Average Fixed Cost =1000/Q Plant B: How much output should be produced at each plant?

  How much will the consumers surplus change

If the government imposes consumption tax on the good that raised prices by $1, by how much will the consumer's surplus change? Show the relationship between EV, CV, and consumer surplus using compensated and uncompensated demand curves. If you your..

  Elucidate what financial impact each of those expenses

Elucidate what financial impact each of those expenses has had on the companies margins

  Recessionary gap on consumers

What is the effect on investment? What is the multiplier effect?

  Compute the equilibrium price and quantity

Assume you are given the following information about a particular industry, Determine the equilibrium price, the equilibrium quantity, output supplied by the firm, and the profit of each firm.

  Calculate the point price elasticity of demand

Last month, Rick's Bike Shop, Inc. increased the price on the 22-ounce can of Camp A bearing grease by 4.5 percent. In response, sales dropped by 9 percent. A) Calculate the point price elasticity of demand for Camp A bearing grease.  B) Calculate..

  Illustrate what price should the theater charge

Illustrate what price should the theater charge for a ticket if it wants to maximize profit. how big will its profit be. What price would you like to charge.

  Mcq on selected topics in macroeconomics

Which of the following is a long-run macroeconomic policy goal? If the CPI was 132.5 at the end of 2003 and 140.2 at the end of 2004, the inflation rate over these two years was

  How trade deficits should be handled

The U.S. trade deficit is currently running over $50 billion per month. Explain why this is bad for the country in the long run. Compare the view of the older GATT treaty, and more recently, the World Trade Organization, of how trade deficits sho..

  Elucidate why the general level of wages in high

Elucidate why the general level of wages in high in the United States and other industrially advanced countries.

  Assume the sri lanka government awarded contracts

Assume the Sri Lanka government awarded contracts to private companies to rebuild the countryâ.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd