We observe that the price of food rises and the quantity purchased also rises. This means the
a. supply curve shifted to the left.
b. demand curve shifted to the right.
c. demand curve shifted to the left.
d. supply curve shifted to the right.
b
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Monopolistic competition is different from perfect competition because monopolistic competitors produce
a. a homogeneous product b. a homogeneous but unique product c. identical products d. differentiated products e. products similar to those produced by a monopoly
Suppose fairness is defined as those who receive the greatest benefits from government should pay the most in taxes, then which of the following taxation systems would be consistent with this notion of fairness?
a. User fees for national parks. b. Gasoline taxes to fund highway maintenance. c. A tax on the poor to finance food stamps and other low-income assistance programs. d. All of the above are consistent.
A person's subjective measure of well-being or satisfaction is called aversion
a. True b. False Indicate whether the statement is true or false
Estimation of the present value of lost current and future income must consider
A. any risk of unemployment. B. the expected length of working life. C. any possible future raises. D. all of the options are correct.