When the price of ice cream falls, we would expect the quantity demanded of ice cream to rise, ceteris paribus
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
People who come to fear that their wealth is going to be confiscated will acquire a relatively greater incentive to invest in
A) agricultural land. B) human capital. C) machinery and physical equipment. D) urban real estate.
The inflation tax is primarily a tax on
A) government bonds. B) Social Security recipients. C) money. D) real income.
If trade between two countries is voluntary, one can expect that
a. one country's gain is necessarily the other's loss. b. one country will exploit the other one. c. neither country really gains from trade. d. the larger country will always gain at the expense of the smaller. e. both countries expect to gain something.
Exhibit 2-11 Production possibilities curves
In Exhibit 2-11, which of the following could have caused the production possibilities curve to shift from the one labeled B to the one labeled A?
A. A major natural disaster. B. An increase in resources. C. An advance in technology. D. A decrease in unemployment.