A buyer's response to a change in income is an example of a "change in demand."
a. True
b. False
Indicate whether the statement is true or false
True
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Which is the accurate statement?
A. There is no evidence that there is such a thing as global warming. B. By the end of the century, most of the cities on the east coast and the west coast will be under water. C. The effects of global warming are uncertain. D. Scientific opinion is virtually unanimous about the effects of global warming.
The equilibrium of aggregate supply and aggregate demand represents the:
A. total of all goods and services produced in the major sectors of the economy. B. general price level of the economy with respect to goods and services households purchase. C. overall state of the national economy. D. All of these are true.
If a firm's demand curve in a monopolistically competitive market is shifting left:
A. firms must be exiting the industry. B. economic profits must be increasing. C. competition is likely entering with similar products. D. None of these statements is true.
Suppose consumers save 5 percent of their incomes. If the government collects 100 dollars in taxes from each taxpayer, private saving will ________ per taxpayer.
A. increase by $105 B. decrease by $95 C. decrease by $5 D. decrease by 95 cents