If British real GDP rose relative to U.S. real GDP, there would be
a. a rightward movement along the supply of British pounds curve in the dollar-pound market
b. a leftward movement along the supply of British pounds curve in the dollar-pound market
c. a rightward shift of the supply of British pounds curve in the dollar-pound market
d. a leftward shift of the supply of British pounds curve in the dollar-pound market
e. the tendency for the supply of British pounds curve to become flatter in the dollar-pound market
C
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A. Shoes B. Nike running shoes C. Running shoes D. The price elasticity of demand will be the same for all of the answers listed.
Command-and-control policies decrease net social welfare
a. True b. False Indicate whether the statement is true or false
_____ goods are rivalrous in consumption and nonexcludable
Fill in the blank(s) with the appropriate word(s).
Patents create monopolies by restricting
A) demand. B) prices. C) entry. D) profit.