If the money prices of resources changes, the SAS curve shifts
Indicate whether the statement is true or false
TRUE
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Traffic congestion is an example of a ________
A) positive externality B) negative externality C) pecuniary externality D) free-rider problem
The vital link between the real and monetary sectors of the economy is the:
A) price level. B) interest rate. C) balance of payments. D) budget deficit.
Computers and software programs are:
a. inferior goods. b. complementary goods. c. goods with a cross-price elasticity of demand of 0. d. substitute goods. e. perfectly elastic goods.
Which of the following statements is true regarding perfect competition?
a. A perfectly competitive market only exists in the agricultural market. b. A perfectly competitive market is a hypothetical extreme. c. There are many examples of perfectly competitive markets in different industries. d. Perfectly competitive markets are the opposite of price takers.