After the implementation of the congestion tax in London, traffic volume was reduced and travel time for cars and buses was cut in half. This is an example of

A) caveat emptor. B) comparative advantage.
C) responding to incentives. D) the role of pricing in allocating resources.

C

Economics

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Stagflation refers to a period of staggering economic growth combined with very low inflation rates

Indicate whether the statement is true or false

Economics

An individual with a new idea for a product, such as someone who invents a new toy, will often take their idea to large manufacturers who have the wherewithal to produce and market their ideas. This barrier to entry is called _______________________.

Fill in the blank(s) with the appropriate word(s).

Economics