The curve that shows how the best affordable consumption bundle changes as the price of a good changes (holding the consumer's income, preferences and all other prices fixed) is called
A. a price-consumption curve.
B. an individual demand curve.
C. an income-consumption curve.
D. a budget line.
A. a price-consumption curve.
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Which of the following statements is true?
A) Technological innovation can cause unemployment in a country as a whole. B) Technological innovation always complements labor. C) Technological innovation can cause unemployment in a single industry. D) Technological innovation always substitutes labor.
The value of the goods and services Australia purchases from the U.S. are less than the value of goods and services the U.S. purchases from Australia. The U.S. has
a. positive net exports with Australia and a trade surplus with Australia. b. positive net exports with Australia and a trade deficit with Australia. c. negative net exports with Australia and a trade surplus with Australia. d. negative net exports with Australia and a trade deficit with Australia.