When the price level falls the quantity of
a. consumption goods demanded rises, while the quantity of net exports demanded falls.
b. consumption goods demanded and the quantity of net exports demanded both rise.
c. consumption goods demanded and the quantity of net exports demanded both fall.
d. consumption goods demanded falls, while the quantity of net exports demand rises.
b
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Economies of scope exist when a business becomes more efficient by
A) offering fewer services. B) offering more services. C) becoming larger. D) becoming smaller.
Which of the following is the correct way to describe equilibrium in a market?
a. At equilibrium, demand equals supply. b. At equilibrium, quantity demanded equals quantity supplied. c. At equilibrium, market forces are no longer at work. d. Equilibrium is a tendency, a state of perpetual motion. e. Equilibrium is the best combination of price and quantity.
Which of the following is a key characteristic of economic freedom?
What will be an ideal response?
A depreciation of the dollar will cause an increase in the Consumer Price Index.
Answer the following statement true (T) or false (F)