As a result of specialization and trade,individuals no longer have to make choices about how to spend their incomes.
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Q134: If a price is above equilibrium,
A)A shortage
Q135: If a price is below equilibrium,
A)A shortage
Q136: "Demand" is a statement of actual purchases.
Q137: Government goods are delivered "free," which means
Q138: Ceteris paribus,for a farmer,corn and wheat are
A)Substitutes
Q140: Ceteris paribus,for the owner of a sawmill,lumber
Q141: Optimal market outcomes are the same as
Q142: In the United States,price ceilings on human
Q143: The market price equals the equilibrium price
Q144: There are never shortages or surpluses when
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