An increase in the price of a product can sometimes represent an improvement in quality rather than inflation
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following questions have a macroeconomic focus?
A) How does a consumer choose which goods to consume given his/her income? B) How does demand for a good change when there is an increase in a consumer's income? C) How does a monopolist decide how much to produce? D) What is the unemployment rate in your country?
Explain why on average the profit levels for invention and entrepreneurship are generally so low
Specialization is the concept of devoting resources to the production of only a small number of goods and services
a. True b. False Indicate whether the statement is true or false
Refer to the diagram. If U.S. consumers increase their travel to eurozone nations, we would expect:
A. the demand for euros to increase and the euro to appreciate.
B. the demand for euros to increase and the dollar to appreciate.
C. the supply of euros to increase and the euro to depreciate.
D. the supply of euros to decrease and the dollar to depreciate.