Society would be better off with more products that create beneficial externalities
a. True
b. False
Indicate whether the statement is true or false
True
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If the price of propane-fueled gas grills was to decrease, then
A) the quantity of propane demanded would decrease. B) the demand for propane would increase. C) the quantity of propane demanded would increase. D) the demand for propane would decrease.
The supply of foreign currencies is upward sloping and the demand for foreign currencies is downward sloping
a. True b. False Indicate whether the statement is true or false
In recent decades, other countries have caught up to the U.S. and even surpassed it in some important economic arenas
a. True b. False Indicate whether the statement is true or false
The marginal value of a commodity to a consumer
a. increases as more of the good is consumed. b. is exactly equal to price for all units purchased by the consumer. c. is measured by the height of the individual consumer's demand curve. d. is equal to the area above the price and below the individual consumer's demand curve.