The aggregate demand curve is downward sloping partly because of the wealth effect
a. True
b. False
Indicate whether the statement is true or false
True
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Kaitlyn and Larissa have formed a dog bathing and grooming business. The number of dogs they can bathe or groom in any given day is depicted in Table 2.1. As they groom more dogs, the opportunity cost of grooming additional dogs
A) rises. B) falls. C) remains constant. D) depends on the prices being charged.
Considering the tax and transfer system in the United States, the poor receive
A) less in benefits than they pay in taxes, and so do the rich. B) more in benefits than they pay in taxes, and so do the rich. C) less in benefits than they pay in taxes, and the rich receive more in benefits than they pay in taxes. D) more in benefits than they pay in taxes, and the rich receive less in benefits than they pay in taxes.