A decrease in crime would be reflected in a country's GDP.
Answer the following statement true (T) or false (F)
False
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The demand curve for microwave popcorn is linear. Which of the following definitely makes the demand for microwave popcorn more inelastic?
A) a decrease in the price of microwave popcorn B) an increase in the price of microwave popcorn C) an increase in income D) a decrease in income
If the U.S. (a large country) imposes a tariff on its imported good, this will tend to
A) improve the terms of trade of the United States. B) have no effect on terms of trade. C) improve the terms of trade of all countries. D) cause a deterioration of U.S. terms of trade. E) raise the world price of the good imported by the United States.
In what market type does an individual firm face a perfectly elastic demand curve?
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly
The consumer's objective is to minimize the utility generated by a fixed budget.
Answer the following statement true (T) or false (F)