Geography, 01.05.2021 20:50, vlactawhalm29
When a price changes, consumers have an incentive to consume less of the good with a relatively higher price and more of the good with a relatively lower price. What is this an explanation for?
A) Demand Effect
B) Supply Effect
C) Income Effect
D) Substitution Effect
Question 37 (1 point)
A higher price means that, in effect, the buying power of income has been reduced, even though actual income has not changed. What is this the explanation for?
A) Income Effect
B) Supply Effect
C) Substitution Effect
D) Demand Effect
Question 38 (1 point)
If Australia holds an absolute advantage in didgeridoos and Japan holds an absolute advantage in katana blades, both countries could be made better off if they specialize in those respective goods and trade.
True
False
Question 39 (1 point)
We must learn to ignore sunk costs when making decisions.
True
False
Question 40 (1 point)
Allocative efficiency takes place at every point along the production possibilities frontier.
True
False
Answers: 2
Geography, 22.06.2019 10:10, jybuccaneers2022
What was the first official pair of sister cities?
Answers: 1
Geography, 22.06.2019 11:00, seasmarie75
Lee is creating a garden with the dimensions shown. he creates paths through the garden along , , and . which correctly compares the lengths of the paths? the path along is longer than the path along , and the path along is longer than the path along . the path along is longer than the path along , and the path along is longer than the path along . the path along is longer than the path along , and the path along is longer than the path along . the path along is longer than the path along , and the path along is longer than the path along .
Answers: 3
Geography, 22.06.2019 23:00, lollollollollol1
Canada plays an important role in the global community in all of the following ways except by a. acting as a superpower with influence over europe and asia. b. promoting arms control and disarmament. c. working with the commonwealth of nations to promote trade. d. promoting trade with japan and other asian countries.
Answers: 2
When a price changes, consumers have an incentive to consume less of the good with a relatively high...
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