Rice is considered to be the staple food in the Philippines, so that when its price escalates, spending of the consumer will Select one: a. Decrease b. increase c. decrease rapidly d. increase rapidly

Rice is considered to be the staple food in the Philippines, so that when its price escalates, spending of the consumer will Select one: a. Decrease b. increase c. decrease rapidly d. increase rapidly

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

ChapterA: Working With Diagrams

Section: Chapter Questions

Problem 1QP

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Question

Rice is considered to be the staple food in the Philippines, so that when its price escalates, spending of the consumer will

Select one:

a. Decrease

b. increase

c. decrease rapidly

d. increase rapidly

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