The short-run market demand curve in perfect competition is positively sloped.
Answer the following statement true (T) or false (F)
False
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People with fixed incomes fare best in an inflationary period
a. True b. False Indicate whether the statement is true or false
Which of the following is likely cause a decrease in the demand for credit?
A) increases in national income B) decreases in concerns about future economic performance C) decreases in the scale of production D) increases in the scale of production
The average propensity to consume is the
A) percentage of total disposable income consumed. B) ratio of changes in planned consumption to changes in real disposable income. C) rate at which real disposable income changes as planned consumption changes. D) slope of the consumption function.
What is NOT true about rational choice?
A) It is the same for all individuals. B) It can result in different decisions for different individuals. C) It involves comparing costs and benefits. D) It might turn out not to have been the best choice after the event. E) It is a choice that uses the available resources to best achieve the objective of the person making the choice.