Explain why each of the following statements is True, False, or Uncertain according to economic principles. Use diagrams where appropriate. Unsupported answers will receive no marks. It is the explanation that is important.

a. An increase in consumer incomes will result in an increase in the price of any consumer goods.
b. If the unemployment rate decreases, we can be sure that the number of unemployed workers has decreased.

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a An increase in consumer incomes will result in an increase in the price of any consumer goods Fals... View the full answer