The special privileges and obligations of corporations are defined by law
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose when Nablom's Bakery raised the price of its breads by 10 percent, the quantity demanded fell by 15 percent. What was the effect on sales revenue?
A) Sales revenue increased. B) Sales revenue decreased. C) Sales revenue remained unchanged. D) It cannot be determined without information on prices.
The view of poverty embraced does not have a direct bearing on what public policies ought to be pursued
Indicate whether the statement is true or false
The supply curve is believed to bend backward at high wage rates because
a. income effects outweigh substitution effects. b. substitution effects outweigh income effects. c. the income and substitution effects work together to create the backward bend. d. leisure time is less attractive.
Command-and-control policies lead to higher prices for consumers than pollution taxes do.
Answer the following statement true (T) or false (F)