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Define and give an example of the income effect. 3.ANS: C PTS: 1 … Rationing From your own experience, describe a situation that required some form of rationing. For example, if the production of a certain good or service is increased because the number of people who are ready to buy that good or service is decreased, then the price of that good or service will also be decreased. CPA Chapter 5 Assessment Answers 100%. What are three basic questions that economists ask about economic systems? Section 1-Assessment 5 Section Assessment (cont.) TRUE/FALSE. Buyersandsellers 5. It’s hiring software that improves the recruiting process and helps build. producers offer more of a good as its price increases and less as its price falls. An paper isn’t unusual in businesses when they ‘re trying to get a remedy and will have to receive all the feasible perspectives and data available. Supply is the amount of goods available. YOU are the protagonist of your own life. Course. 1. 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