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As the price of a product or service rises, smart consumers switch to cheaper substitutes and demand decreases.
Q17: Which government fiscal policy is a negative
Q57: If the price of automobiles falls, the
Q70: The high price of diamonds relative to
Q93: Which government fiscal policy is a positive
Q105: There is a shortage when quantity supplied
Q128: Hands-off economists argue that social safety nets
Q138: Joanna is paid $50 an hour to
Q158: The forces that encourage creative destruction ultimately<br>A)
Q192: When consumers' incomes increase, the price of
Q199: A structural deficit is a government budget