When the term "price" is used in the law of demand, price refers to
A) the dollar price of the good.
B) the price of the good relative to the price of another good.
C) the absolute price of the good.
D) the nominal price of the good relative to its nominal price in the previous year.
Answer: B
Economics
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a. right, making inflation higher than otherwise. b. right, making inflation lower than otherwise. c. left, making inflation higher than otherwise. d. left, making inflation lower than otherwise.
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The external costs associated with gambling include
A. the crowd control problems at casinos. B. the effects on the gamblers' family. C. the cost of security at casinos. D. the losses to gamblers.
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