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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Patents create monopolies by restricting
A) demand. B) prices. C) entry. D) profit.
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).
Which of the following is likely to have the highest price elasticity of demand?
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.