Based on the answer above, the price for peanut butter_____________ and the quantity demanded for peanut butter ____________
a. Uncertain; decreases
b. Decreases; increases
c. Decreases; uncertain
d. Increases; uncertain
d
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The circular flow of income involves the idea that
A) the seller of a good receives exactly the same amount as the buyer spends. B) in every economic exchange one party takes advantage of the other party. C) the seller of a good receives more than the buyer spends. D) the seller of a good receives less than the buyer spends.
Saving is equivalent to withdrawing financial capital from the market.
Answer the following statement true (T) or false (F)
How do Pigouvian taxes help in reducing pollution?
What will be an ideal response?
Why is it difficult for the market to deliver socially efficient quantities of goods like clean air or street lighting?
What will be an ideal response?