When a demand curve shifts, both the equilibrium price and quantity traded will change in the same direction as a result
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The demand for necessities generally is ________ the demand for luxury goods
A) as elastic as B) more elastic than C) less elastic than D) flatter than E) not comparable to
Economics
With consumption on the vertical axis and leisure on the horizontal axis, the slope of the budget line is equal to
A) w. B) -w. C) ?. D) -?.
Economics
The relationship between household saving and business investment spending in equilibrium is: Planned investment = household saving - government spending + taxes
a. True b. False
Economics
What is meant by the term "excess capacity" as it relates to monopolistically competitive firms?
Economics