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The following sets of statements contain common errors. Identify and explain each error: Demand increases, causing prices to rise. Higher prices cause demand to fall.
The following sets of statements contain common errors. Identify and explain each error:
- Demand increases, causing prices to rise. Higher prices cause demand to fall. Therefore, prices fall back to their original levels.
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Error 1 Failure to state price explicitly or clearly In economics we have own price of the good and ...
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Principles of Macroeconomics
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
12th edition
134078802, 978-0134078809
