If consumers were originally willing to buy 500 units of a good at a price of $20 are now willing to buy 500 units of the same good at a price of $10, that change would be described as a decrease in demand
a. True
b. False
Indicate whether the statement is true or false
True
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Pizza is a normal good. Which figure above shows the effect of a decrease in consumers' incomes?
A) Figure A B) Figure B C) Figure C D) Figure D E) Both Figure B and Figure C
How well the group works together is called
a. dynamics b. cohesiveness c. conforming d. norming
All of the following are governmental efforts to decrease poverty EXCEPT
A. tariffs. B. Supplemental Security Income. C. the earned income program. D. transfer payments.
Adverse selection in insurance requires that
a. all people face the same risk b. potential customers facing more risk are more interested in purchasing insurance c. people are not risk averse d. insurers can tell higher risk people from lower risk people