Purchasing power parity explains how exchange rates cause price differences between two countries
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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What is likely to happen to the allocation of resources if there is a sudden increase in the demand for a good produced by a perfectly competitive industry?
What will be an ideal response?
Economics
Based on your answer above(question 23), which of the following statements best characterizes demand for organic tomatoes.
A. Demand for organic tomatoes is inelastic. B. Demand for organic tomatoes is elastic. C. Organic tomatoes are a normal good. D. Organic tomatoes are an inferior good.
Economics