Macroeconomics Unit 2 challenge 1.docx - Macroeconomics...

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Macroeconomics Unit 2 challenge 1 Which of the following statements is FALSE relating to the Law of Demand? a.) Consumers can usually find substitutes to the good in question. b.) Perfectly inelastic demand is an exception to the Law of Demand. c.) If the producer increases the price of a good, consumers will demand a lower quantity. d.) The Law of Demand takes into account all other variables in the market. According to recent numbers, demand for college education had fallen in recent years.
Which of the following examples would indicate a movement along the demand curve?

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