Which of the following is an example of the law of demand?
A) A decrease in the price of milk is followed by an increase in milk purchases.
B) A decrease in the price of milk is followed by a decrease in milk purchases.
C) An increase in the price of milk has no effect on the amount of milk purchased.
D) The amount of milk purchased increases when the price is constant.
A
Economics
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An increase in the expected inflation rate
A) leads to a movement downward along the short-run Phillips curve. B) shifts the short-run Phillips curve downward. C) shifts the long-run Phillips curve upward. D) shifts the short-run Phillips curve upward. E) leads to a movement upward along the short-run Phillips curve.
Economics
A common pool resource is nonrival and nonexcludable
Indicate whether the statement is true or false
Economics