On holiday weekends thousands of people picnic in state parks. Some picnic areas become so overcrowded the benefit or value of picnicking diminishes to zero. An overcrowded picnic area is an example of

Suppose that U.S. mining companies purchase German-made ore trucks at a reduced price. By itself, what effect will this purchase have on the GDP deflator and on the consumer price index?

a. The consumer price index and the GDP deflator will both fall. b. The consumer price index and the GDP deflator will both be unaffected. c. The consumer price index will fall, and the GDP deflator will be unaffected. d. The consumer price index will be unaffected, and the GDP deflator will fall.

When the price of a good increases, the budget constraint shifts in parallel to the original budget constraint.

Answer the following statement true (T) or false (F)