A price increase for pizza will reduce the quantity of pizza demanded because it reduces a buyer's purchasing power. This is called :
a. income effect
b. the alternative effect
c. the substitution effect
d. the normal good effect
a
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Refer to Figure 18.1. Canada has a comparative advantage in the production of
A) bicycles. B) hang gliders. C) both bicycles and hang gliders. D) neither bicycles nor hang gliders.
Consider the perfectly competitive firm in the above figure. At what price will long-run equilibrium occur?
A) $11 B) $12 C) $22 D) $23
The Sarbanes-Oxley Act of 2002 requires that CEOs personally certify the accuracy of financial reports
Indicate whether the statement is true or false
When the Fed conducts open-market operations, it primarily uses
a. Treasury bills. b. long-term U.S. government bonds. c. bonds of publicly traded corporations. d. overnight loans of major banks.