If a decrease in the price of a good causes a rightward shift of the demand curve for that good, then it is an inferior good
a. True
b. False
B
Economics
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Over the past 110 years, real GDP per person in the United States has grown at an average rate of about ________ per year
A) 1 percent B) 2 percent C) 5 percent D) 10 percent E) 7.5 percent
Economics
Unlike business, government can coerce individuals to paying higher prices through taxes
Indicate whether the statement is true or false
Economics
If you dislike the smell of gardenias and you live next to a gardenia farm, the scent of gardenias that wafts over to you would be, in economic terms, a:
a. positive nuisance b. nullified benefit. c. pollutant. d. negative externality.
Economics
Why do we refer to physical capital as a produced factor of production?
Economics