If consumers receive an increase in income of $1,000 . their spending will increase by a smaller amount
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The giving up of a good or activity in order to obtain some other good or activity is called:
a. a tradeoff. b. a cost analysis. c. a random choice. d. an opportunity cost. e. a sunk cost.
Economics
Which of the following are primarily macroeconomic topics and which are primarily microeconomic topics?
a. college tuition rates b. farm subsidies c. national income d. automobile prices e. air traffic congestion f. economic recession What will be an ideal response?
Economics