In a perfectly competitive industry, which of the following is a market signal to resource owners?
A) economic profits
B) quality of goods
C) the level of exports in the country
D) the level of subsidies the industry receives
A
Economics
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Illustrate with a graph the effects of fiscal policy when exchange rates are fixed
What will be an ideal response?
Economics
If a consumer purchases only two goods (x and y) and the demand for x is elastic, then a rise in the price of x:
a. will cause total spending on good y to rise. b. will cause total spending on good y to fall. c. will cause total spending on good y to remain unchanged. d. will have an indeterminate effect on total spending on good y.
Economics