GDP may be computed using the expenditure or value-added approaches
Indicate whether the statement is true or false
TRUE
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Suppose that when the price of hamburgers decreases, the Ruiz family increases their purchases of ketchup. To the Ruiz family
A) hamburgers and ketchup and substitutes. B) hamburgers and ketchup are normal goods. C) hamburgers are normal goods and ketchup is an inferior good. D) hamburgers and ketchup are complements.
An increase in real interest rates will lead to an increase in the quantity of loanable funds supplied
a. True b. False Indicate whether the statement is true or false
An increase in demand will cause the equilibrium price and quantity to rise, ceteris paribus.
Answer the following statement true (T) or false (F)
Opportunity cost exists because of
A) poverty. B) scarcity. C) greed. D) self-interest.