If an increase in the price of peaches reduces the demand for cream, this indicates that peaches and cream are
a. normal goods.
b. inferior goods.
c. complements.
d. substitutes.
C
Economics
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In more modern times as opposed to the times of Malthus, higher standards of living appear to
A) decrease death rates and increase birth rates. B) decrease death rates and also decrease birth rates. C) decrease death rates and have no effect on birth rates. D) have had effects on neither death rates nor birth rates.
Economics
Inefficient use of resources is shown on the production possibilities curve
A) by an inward shifting of the curve. B) by a point inside the curve. C) by a point near the top of the curve. D) by a point outside the curve.
Economics