ECON7100-M50 Fall 2010 Exam03 1.


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1Which products would probably save you money by buying later (either in new or used conditions) than now?

A.New consumer durable goods with projected demand likely exceeding projected supply. B.Collectors’ items. C.New durable consumer goods subject to substantial capital depreciation but with an active used-good market. D. Limited edition art objects by emerging artists.

2.The preferences of consumers for superstars and hit mass products have contributed to A.a more even distribution of income. B.too few people chasing the star dreams. C. The concentration of income at the bottom. D.the average income being higher than the median income.