When two goods are perfect complements, the indifference curves are right angles
a. True
b. False
Indicate whether the statement is true or false
True
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When an American college student in Davis, California spends $200 on a pair of Louis Vuitton jeans (a famous French brand), U.S. consumption ________, U.S. net exports ________, and U.S. GDP ________
A) does not change; increases by $200; increases by $200 B) increases by $200; decreases by $200; does not change C) increases by $200; does not change; increases by $200 D) does not change; does not change; does not change E) does not change; decreases by $200; decreases by $200
What is purchasing power parity?
What will be an ideal response?
Which statement is true?
A. Price discrimination eliminates all consumer surplus. B. The main motivation for price discrimination is to decrease profits. C. Airlines successfully separate business travelers from leisure travelers by requiring customers who get lower rates to stay over on Saturday night. D. None of the choices are true.
Two goods are substitutes if an increase in the price of one good leads to a decrease in demand for the other.
Answer the following statement true (T) or false (F)