You are analyzing the demand for good X. Which of the following will result in a shift to the right of the demand curve for X?
A) A decrease in the price of X
B) An increase in the price of a good that is a complement to good X
C) An increase in the price of a good that is a substitute for X
D) all of the above
C
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Which of the following is true about inflation?
a. Inflation promotes social harmony by uniting people against the government. b. Inflation is more damaging if it is anticipated. c. Accurate anticipation of inflation is possible for everyone who is well informed about economic events. d. Those who lend money at a rate below the rate of inflation suffer economic losses. e. If people accurately anticipate inflation, their actions will prevent it.
One reason why critics argue that large firms should not be broken up is that in some cases
a. large firms have a concentration of economic power. b. large firms are less-efficient producers. c. many smaller firms would be less-efficient producers. d. there is no economic reason to break up large firms that may have some control over the market.