Refer to the information above. What is the level of consumption when the level of income equals 2000?
A) 600
B) 1000
C) 1600
D) 2000
C
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The elasticity of demand for Dell computers is probably
A) inelastic and smaller than the elasticity of demand for computers overall. B) elastic and smaller than the elasticity of demand for computers overall. C) inelastic but larger than the elasticity of demand for computers overall. D) elastic and larger than the elasticity of demand for computers overall.
Imports tend to fall whenever a nation's currency appreciates because foreign products become more expensive to domestic consumers
Indicate whether the statement is true or false
The basic difference between macroeconomics and microeconomics is that...
What will be an ideal response?
Which of the following is not a characteristic of perfectly competitive markets?
A. Long-run economic profits B. Identical products C. Many sellers D. Free entry and exit