In a competitive market for corn, the law of demand indicates that, other things equal, as:
a. The price of corn decreases, the quantity of corn demanded will decrease
b. Income decreases, the quantity of corn demanded will increase
c. The demand for corn decreases, the price will increase
d. The price of corn rises, the quantity of corn demanded will fall
d. The price of corn rises, the quantity of corn demanded will fall
Economics
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The largest source of revenue for the federal government of the United States is from
A) tariffs collected on imported goods. B) property taxes imposed on private property. C) individual income taxes. D) sales taxes on items purchased for consumption.
Economics
A production point is economically efficient as long as it lies within the production possibilities set
Indicate whether the statement is true or false
Economics