Author Question: When a person's income doubles, her consumption of each good will double in order for her to stay in ... (Read 34 times)

panfilo · **on:** Jun 30, 2018

When a person's income doubles, her consumption of each good will double in order for her to stay in consumer equilibrium.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Although the GATT was supported by most of the countries of the world, yet global trade shrank during the close of the last decade. This was due to:
a. growing suspicion among the nations of the world.
b. hyperinflation in the major economies of the world.
c. the recession which began in 2007.
d. political turmoil in the Asian countries.
e. the desire among the major players to dominate the international market.