The law of demand refers to the:
a. tendency of prices to increase as more units of a product are demanded.
b. increase in price that results from an increase in demand for a good with a limited supply.
c. inverse relationship between the price of a good and the quantity of the good demanded.
d. increase in the quantity of a good available as the price of the good increases.
c
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The reported reduction in the exchange-rate pass through to import prices means that U.S. inflation will be relatively insensitive to exchange rate changes
Indicate whether the statement is true or false
Output expanded and was distributed toward wartime uses and away from private uses only during World War I (1914–18), not World War II (1941–45). The high unemployment of the 1940s made this possible
Indicate whether the statement is true or false
Suppose pigs (P) can be fed corn-based feed (C) or soybean-based feed (S) such that the production function is P = 2C + 5S. The expansion path depends
a. on the price of corn-based feed only. b. on the price of soybean-based feed only. c. on neither the price of corn-based or soybean-based feed. d. on whether the price of corn-based feed is greater than or less than 2/5 the price of soybean-based feed.
A decrease in government purchases shift the aggregate demand curve ... and a decrease in taxes shifts the aggregate demand curve ...
What will be an ideal response?What will be an ideal response?