To derive the demand curve for good X, all the following are constant EXCEPT
A. tastes and preferences.
B. the price of good Y.
C. income.
D. the price of good X.
Answer: D
Economics
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According to the "Rule of 70," it will take 4 years for real GDP per capita to double when the growth rate of real GDP per capita is
A) 4 percent. B) 12.25 percent. C) 17.5 percent. D) 28 percent.
Economics
A leftward shift of a product supply curve might be caused by
A. an improvement in the relevant technique of production. B. some firms leaving the industry. C. a decline in the prices of needed inputs. D. an increase in consumer incomes.
Economics