A_________________is a situation where suppliers offer different amounts of products for sale at all possible prices in a market.
Fill in the blank(s) with the appropriate word(s).
Ans: change in supply
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An indifference curve is a line showing
A. combinations of goods that can be produced if all resources are fully employed. B. all combinations of two commodities that are equally desirable to the consumer. C. all combinations of goods over which the consumer has no choice. D. how decisions are made in a nonmarket economy.
What are factor endowments?
What will be an ideal response?
The ratio of the prices of two goods multiplied by -1 is equal to the slope of the budget line
a. True b. False
A decrease in the price of domestically produced industrial robots will be reflected in
a. both the GDP deflator and the consumer price index. b. neither the GDP deflator nor the consumer price index. c. the GDP deflator but not in the consumer price index. d. the consumer price index but not in the GDP deflator.