Increases in product prices shift the consumer's:
A. budget line to the right.
B. budget line to the left.
C. indifference curves to the left.
D. indifference curves to the right.
Answer: B
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Deciding that A causes B when in fact B causes A is a mistake called omitted variable bias
a. True b. False Indicate whether the statement is true or false
A uniform-abatement policy is:
A. inefficient because it does not exploit the differences in abatement costs among firms. B. efficient because an equal amount of pollution is assigned to each firm. C. inefficient because it incurs relatively low compliance costs. D. efficient because it helps firms lower their production costs.
From the perspective of economists, whcih term privides the highest degree of confidence for explaining econominic behaviour?
What will be an ideal response?
When an American doctor opens a practice in Bermuda, his production there is part of U.S. GDP
a. True b. False Indicate whether the statement is true or false