It is possible for the absolute price of a good to rise at the same time that the good's relative price is falling
Indicate whether the statement is true or false
True
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From 1800-1860 which part of the nation most supported high tariffs?
a. Southeast. b. New England. c. Southwest. d. Far Western States.
Which of the following statements is NOT true?
A. The United States government ensures that competition flourishes, that information flows freely, and that property rights are protected. B. The price mechanism will work best if there are a enough firms in each industry to ensure that no one firm can influence price. C. Environmental pollution is considered a market failure. D. Everything produced by the public sector is a public good.
(Scenario: Growth Rates) Look at the scenario Growth Rates. According to the rule of 70, how large will China's real GDP per capita be in 20 years?
What will be an ideal response?
A decrease in price will lead to an increase in demand.
a. true b. false