Business, 10.09.2019 03:20 froyg1234

There are a number goods that over time, for a variety of reasons, transition from being a normal good to an inferior good or from being an inferior good to a normal good. one such example of a good is the toyota camry. in the 1980s, more income for a household usually resulted in more camry's being purchased. however, today more toyota camry's are purchased by households that have experienced a reduction in income. how could this happen? a. households have already purchased enough camry's so income has little impact. b. the camry becomes a normal good because the good is now perceived as lower in quality than a lexus. c. the camry becomes an inferior good because as consumers receive more purchasing power, they purchase more of the product. d. the camry becomes an inferior good because the good is now perceived as lower in quality than a lexus.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 20:40

Which of the following actions is most likely to result in a decrease in the money supply? a. the discount rate on overnight loans is lowered. b. the government sells a new batch of treasury bonds. c. the federal reserve bank buys treasury bonds. d. the required reserve ratio for banks is decreased. 2b2t

Answers: 2

Answer

Business, 22.06.2019 03:00

1) u.s. real gdp is substantially higher today than it was 60 years ago. what does this tell us, and what does it not tell us, about the well-being of u.s. residents? what are the limitations of the gdp as a measure of economic well-being? given the limitations, why is gdp usually regarded as the best single measure of a society’s economic well-being? 2) what is an intermediate good? how does an intermediate good differ from a final good? explain why it is the case that the value of intermediate goods produced and sold during the year is not included directly as part of gdp, but the value of intermediate goods produced and not sold is included directly as part of gdp.

Answers: 2

Answer

Business, 22.06.2019 19:00

All of the following led to the collapse of the soviet economy except a. a lack of worker incentives. c. inadequate supply of consumer goods. b. a reliance on production quotas. d. the introduction of a market economy.

Answers: 1

Answer

Business, 22.06.2019 19:50

Joe pays ann to mow his lawn and ann mows vanna's lawn by mistake. vanna peers out her window and sees ann mowing, yet says nothing to ann about her mistake since vanna needs to have her lawn mowed. when ann approaches vanna for payment, vanna refuses, arguing that she never asked ann to mow her lawn. under these circumstances, ann can recover payment from vanna under:

Answers: 1

Answer

You know the right answer?

There are a number goods that over time, for a variety of reasons, transition from being a normal go...

Questions