When an economist states that "price changes cause quantity changes ceteris paribus", she is stating that price changes cause quantity changes
A. only in theory.
B. always.
C. only in efficient markets.
D. all else equal.
Answer: D
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Rising agricultural prices and opportunities to own land provided people with incentives to migrate to the trans-Appalachian states
Indicate whether the statement is true or false
Input-output analysis is rarely used because
a. it requires tremendously complex calculations. b. it requires large amounts of data. c. market economies can instead rely on the price mechanism to organize production. d. All of the above are correct.
Wheat is the main input in the production of flour. If the price of wheat decreases, then we would expect the
a. demand for flour to increase. b. demand for flour to decrease. c. supply of flour to increase. d. supply of flour to decrease.
International trade does all the following except
What will be an ideal response?