Refer to Table 9-4. Assume the market basket for the consumer price index has two products — meat and potatoes — with the following values in 2011 and 2016 for price and quantity: The Consumer Price Index for 2016 equals
A) 125.
B) 129.
C) 135.
D) 141.
D
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According to the law of demand:
A.) Price and quantity demanded are inversely related. B.) Price is constant along a particular demand curve. C.) The demand curve will shift rightward as price increases. D.) Businesses will produce more as price increases.
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Answer the following statement true (T) or false (F)
One benefit of the patent system is that it encourages the production of technical knowledge
a. True b. False Indicate whether the statement is true or false