The law of demand can be stated as all else equal:
A. quantity demanded rises as price rises.
B. quantity demanded rises as income rises.
C. quantity demanded rises as price falls.
D. demand rises as price falls.
Answer: C
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Behavioral economists recommend mechanisms to help people actually do things they say they want to do but often don't. Such mechanisms are often called
A. commitment devices. B. self-control. C. savings rates. D. charitable donations.
Explain why a firm's long-run total cost is no greater than its short-run total cost. Under what circumstances will the two be equal?
What will be an ideal response?
Refer to the information above. What is the level of unintended inventory investment when income is 850?
A) -175 B) 175 C) -200 D) 200
Which of the following is important if a country is going to achieve and sustain high rates of economic growth?
What will be an ideal response?