Why does this graph show an increase in income?
a. area a + c is greater than area b + c
b. area b + c is greater than area a + b
c. area a + b is greater than area b + c
d. area b + c is equal to area a + b
b. area b + c is greater than area a + b
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Public goods are those for which
A) individuals who do not pay can be excluded from consuming the good. B) individuals who do not pay cannot be excluded from consuming the good. C) external costs exist. D) no external costs exist.
What happens if there is a shortage or a surplus of U.S. dollars in the foreign exchange market?
What will be an ideal response?
In the absence of property rights, inventors have ________ incentive to invest in innovations and ________ incentive to disclose how to use and make their innovations.
A) less; less B) more; less C) more; more D) less; more
The currency value of Agraria is set by government decree. Which of the following happens when the government alters the exchange rate so that its currency can buy more units of foreign currency?
A. Reflation B. Devaluation C. Appreciation D. Revaluation