Consider a two-good world: good x and good y. The ICC (income consumption curve) between good x and good y has a negative slope and the Engle curve of good x has a positive slope. Which of the following statements is false? a. Good x is a normal good.
b. Goody is an inferior good.
c. The Engle curve for good y has a negative slope.
d. The income elasticity for good y is negative.
e. none of the above.

Suppose that hubert, an economist from an am talk radio program, and kate, an economist from a nonprofit organization on the west coast, are arguing over government bailouts. the following dialogue shows an excerpt from their debate: kate: to recent financial crises, the concept of bailouts is a hot topic for debate among everyone these days. hubert: indeed, it’s gotten crazy! a government bailout of severely distressed financial firms is unnecessary because free markets will properly price assets. kate: i don’t know about that. without a bailout of severely distressed financial firms, the economy will experience a deep recession. the disagreement between these economists is most likely due todifferences in scientific judgments . despite their differences, with which proposition are two economists chosen at random most likely to agree? business managers can raise profit more easily by reducing costs than by raising revenue. central banks should focus more on maintaining low unemployment than on maintaining low inflation. employers should not be restricted from outsourcing work to foreign nations

Ben collins plans to buy a house for $166,000. if the real estate in his area is expected to increase in value by 2 percent each year, what will its approximate value be five years from now?

Refer to the payoff matrix. suppose that speedy bike and power bike are the only two bicycle manufacturing firms serving the market. both can choose large or small advertising budgets. is there a nash equilibrium solution to this game?