The change in the quantity demanded of a good resulting from a change in relative price with the level of satisfaction held constant is called the ________ effect
A) Giffen
B) real price
C) income
D) substitution
D
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The real GDP per capita allows economic comparison between countries
Indicate whether the statement is true or false
The government increases taxes. As a result, in the short run, real GDP ________ and the price level ________
A) increases; rises B) decreases; falls C) decreases; rises D) increases; falls
An exogenous increase in domestic investment will
a. increase foreign capital flows into the country. b. increase domestic capital flows to foreign countries. c. reduce domestic interest rates. d. both a and b. e. none of the above.
A redistributive program that taxes the rich and gives to the poor _____
a. is an example of equality of opportunity in action b. is an example of equality of results in action c. is an example of the an economically efficient transfer d. is an example of a procedural theory of justice in action