There are several reasons why incomes are unequal, including differences in luck, experience, and schooling
a. True
b. False
Indicate whether the statement is true or false
True
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In the short run, a change in the nominal exchange rate brings an equivalent change in the real exchange rate
Indicate whether the statement is true or false
The demand curve a monopolist faces:
a. is more elastic than a perfectly competitive firm's demand curve. b. is the market demand curve. c. is as elastic as a perfectly competitive firm's demand curve. d. is not affected by the prices of complements. e. will not shift in response to a change in consumer tastes.
Each point on the demand curve is
a. demand for the product. b. a quantity demanded at that price. c. the amount that people want to buy. d. the amount people want to buy at different income levels. e. All of the above are correct.
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What will be an ideal response?