Ceteris paribus means "Let the buyer beware."
Indicate whether the statement is true or false
FALSE
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The consumer price index implicitly assumes that the demand curve for each good and service in the representative market basket is
A) vertical. B) negatively sloped. C) positively sloped. D) horizontal.
Refer to the above figure. Production at Point F
A) is not attainable given the underlying assumptions of the production possibilities curve (PPC). B) would not be desirable. C) can only be attained by giving up Point E. D) can be attained only if a society desired more goods and services.
When the exchange rate moves from $1 = CAD1.5 to $1 = CAD1.66, it implies:
a. the U.S. dollar has depreciated in relation to the Canadian dollar. b. U.S. imports of Canadian goods will rise. c. the dollar price of the Canadian dollar has risen. d. the Canadian dollar has appreciated in relation to the U.S. dollar. e. Canadian imports of U.S. goods will rise.
Market equilibrium is the intersection of the demand curve and the social cost curve
a. True b. False Indicate whether the statement is true or false