The data illustrate the:
A. law of comparative advantage.
B. utility-maximizing rule.
C. law of diminishing marginal utility.
D. law of increasing opportunity costs.
C. law of diminishing marginal utility.
Economics
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The use of foreign money instead of domestic money when the domestic economy has a high rate of inflation is called _____
a. currency depreciation b. currency substitution c. capital flight d. currency devaluation e. currency trade
Economics
Other things constant, a decrease in the demand for hair dryers will
a. increase the price of hair dryers. b. increase the quantity supplied of hair dryers. c. increase the demand for hair dryer manufacturing workers. d. decrease the demand for hair dryer manufacturing workers.
Economics