There Are Two Goods in the Economy,apples and Bread

question 17

Multiple Choice

There are two goods in the economy,apples and bread.The relative price of apples has increased.This could be due to

• A) an increase in the absolute price of apples,ceteris paribus.
• B) a decrease in the absolute price of bread,ceteris paribus.
• C) a decrease in the absolute price of apples,ceteris paribus.
• D) an increase in the absolute price of bread,ceteris paribus.
• E) a and b

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Definitions:

Flash Mob Protest

A type of demonstration where a large group of people quickly assembles to perform an act of protest before dispersing just as quickly.

Working Conditions

The environment in which employees work, encompassing factors like safety, hours, physical demands, and the overall atmosphere of the workplace.

Legal

Pertaining to the law or the system of rules that a particular country or community recognizes as regulating the actions of its members and may enforce by the imposition of penalties.

Employers and Employees

Relationship between individuals who hire and pay for labor (employers) and those who work for pay (employees) within an organizational context.