Demand is the relationship between the ____ and the ____ of a good when all other things remain the same. Question 3 options:
A. demand schedule; price
B. quantity demanded; buying plans
C. demand curve; demand schedule
D. quantity demanded; price
D. quantity demanded; price
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Answer the following statement(s) true (T) or false (F)
1. A doubling of all prices has the same effect on the budget line as reducing income by half. 2. If the consumer's income doubles, then his optimal purchases of all goods will double. 3. If the consumer's income and all prices simultaneously triple, then his optimum will not change. 4. The slope of the budget line always equals the consumer's marginal value. 5. The budget line illustrates the consumer's opportunities and the indifference curve illustrates the consumer's preference.
Which of the following statements is true of British colonies in Jamaica and Barbados?
A) Production was based on well-defined property rights and private ownership of resources. B) The institutions set up in colonies in Jamaica and Barbados were mostly inclusive. C) Participation of the natives in politics was greatly limited. D) The colonies were similar to the ones set up in North America.
Is sharecropping economically efficient or inefficient? Explain
What will be an ideal response?
When discrimination occurs as a result of employer prejudice, discriminating firms do not maximize profits
a. True b. False Indicate whether the statement is true or false