High prices redistribute wealth from consumers to firms
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
A construction boom occurs and many of the new buildings need plywood for their framing. Which of the figures above best illustrates this change?
A) Figure A B) Figure B C) Figure C D) Figure D E) Figure A or Figure C
Refer to Figure 2-9. Carlos Vanya grows tomatoes and strawberries on his land. A portion of his land is more suitable for growing tomatoes and the other portion is better suited for strawberry cultivation
Which of the graphs in Figure 2-3 represent his production possibilities frontier? A) Graph A B) Graph B C) Graph C D) either Graph A or Graph B E) either Graph B or Graph C
Which of the following reduces U.S. potential for economic growth by reducing household incentive to use private property most efficiently and effectively?
(a) Personal income taxes (b) Farm subsidies and import tariffs (c) Auto bailouts (d) Regulation in the health care industry
If the demand for softballs increases, one could expect the demand for leather to increase. This is due to the a. principle of diminishing marginal product
b. change in the opportunity cost of producing a softball. c. reduction in the cost of producing softballs. d. demand for an input being a derived demand.