Ordinarily, the expectation that prices will fall in the future should spur current
consumer spending.
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Q14: The law of supply holds that price
Q15: The supply curve slopes upward to the
Q16: Assume a free market where a surplus
Q17: Changes in demand may be accounted for
Q18: Inferior goods differ from normal goods in
Q20: A leftward shift in the supply curve
Q21: If we know that both the demand
Q22: Those goods whose demand tends to be
Q23: The principal determinant of the elasticity of
Q24: In the long run the supply of
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