As the price of leather increases
A. the price of leather shoes will decrease.
B. the demand for leather shoes will increase.
C. the quantity of leather shoes demanded will decrease.
D. the supply of leather shoes will increase.
C. the quantity of leather shoes demanded will decrease.
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Antitrust lawsare designed to promote competition.
Answer the following statement true (T) or false (F)
Deficits financed by borrowed money lead to inflation, and in a fixed or crawling peg exchange rate system, this leads to the real exchange rate being undervalued
Indicate whether the statement is true or false
From Example 1.2 in the textbook, Pindyck and Rubinfeld distinguish between the mass market and dealer market for bicycles. Although there are many dealers in the U.S and only a few mass merchandisers, we should expect the dealer market to be somewhat less competitive than the mass market. Why?
A) Due to their differences in quality and performance, dealer bicycles are not close substitutes. B) The geographic extent of the market for dealer bicycles is typically small, so the individual sellers do not have many local competitors. C) Dealers are small sellers and have little control over bicycle prices. D) A and B are correct. E) B and C are correct.
A productivity increase is illustrated by a shift in the production function
a. downward. b. leftward. c. upward. d. rightward.