If aggregate expenditure at a particular level of income is less than output,
a. output will increase
b. output will decrease
c. output will remain the same
d. output will rise slightly and then level off
e. we cannot determine what will happen to output
B
Economics
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The law of diminishing marginal product holds so long as the input is not a Giffen good.
Answer the following statement true (T) or false (F)
Economics
Which of the following is NOT an example of price discrimination?
A. Pharmaceutical companies charge customers living in wealthier countries higher prices than for identical drugs in poorer nations. B. A hard cover book selling for more than the same book in electronic form C. Breakfast cereal makers sending coupons to select buyers D. Student discount at a local movie theater
Economics