Autarchy as used in the text refers to

(a) an economy that does not trade.
(b) an economy that trades primary products in exchange for manufactures.
(c) developing country dictatorships.
(d) the caste system and related social structures.

A

Economics

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An inferior good is a good whose income elasticity of demand is less than 0

Indicate whether the statement is true or false

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Refer to the above figures. A negative externality exists that has not been corrected. Price and quantity will be

A) P1 and Q1. B) P2 and Q2. C) P3 and Q3. D) P4 and Q4.

Economics