Suppose you were to believe that "money illusion" exists that is as prices and incomes both rise proportionally, people buy more. Which of the following characteristics of demand does that cause you to doubt?
a. demand functions are downward sloping
b. demand has a positive vertical intercept
c. demand has a positive horizontal intercept.
d. demand functions are homogeneous of degree zero.
d
Economics
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Collusive arrangements tend to collapse when
a. there is a small number of sellers b. the benefits of cheating are great and the costs are low c. inflation is high d. interest rates are low e. there is a powerful price leader
Economics
________: defined by the income available for consumption and the prices that a consumer faces
Fill in the blank(s) with correct word
Economics