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Three Key Economic Ideas
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Problem 1
Problem 2
Problem 3
Problem 4
Problem 5
Problem 6
Problem 7
Problem 8
Problem 9
Problem 10
Three Key Economic Ideas
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1. Introduction to Macroeconomics / Three Key Economic Ideas / Problem 6
Problem 6
What is a common consumer response to a decrease in the price of a good?
A
Switching to a more expensive substitute.
B
Ignoring the price change and maintaining the same consumption level.
C
Decreasing the quantity demanded of the good.
D
Increasing the quantity demanded of the good.
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