Refer to Figure 10-7. Suppose the price of Pilates sessions rise to $30 while income and the price of Yoga sessions remain unchanged. The substitution effect of this price change is represented by the movement from
A) A to B. B) A to C. C) A to D. D) D to B.
C
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According to the aggregate production function, when inputs increase
A. the economy grows. B. inflation slows. C. GDP declines. D. unemployment rises.
Are small town banks monopolies?
a. No, they are regulated by government agencies. b. Yes, one town is an easy market to monopolize. c. Yes, there are many barriers to competition in banking. d. No, there are other banking options that are easy to use.
? Which of the following transactions would be recorded as a debit in the U.S. current account?
a. the purchase of air service from a U.S. airline by a Japanese traveler b.? the purchase of U.S. grain by a Japanese bakery c. the purchase of a Japanese car by an American d.? a short-term loan extended to a Japanese manufacturer by a U.S. bank
A graph that shows the maximum combinations of two goods which a consumer can purchase with a given money income is:
A. The production possibilities curve B. An indifference curve C. A demand curve D. A budget line