Kinks in budget constraints always produce non-convexities in choice sets.
Answer the following statement true (T) or false (F)
False
Rationale: Only inward kinks produce such non-convexities; outward kinks do not.
Economics
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Suppose that a product benefits from a successful advertising campaign. The result is that
A) the supply of the product decreases. B) the supply of the product increases. C) the demand for the product increases. D) the demand for the product decreases.
Economics
Does economic growth result from increases in aggregate demand, short-run aggregate supply, or long-run aggregate supply?
What will be an ideal response?
Economics