Which of the following corresponds to the definition of the supply curve?
a. It depicts a positive relationship between income and quantity supplied.
b. It depicts a positive relationship between technology and prices.
c. It depicts a positive relationship between prices and quantity supplied.
d. It depicts a negative relationship between prices and quantity supplied.
e. It depicts a proportional relationship between prices and quantity supplied.
c
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As the money wage rate increases,
A) potential GDP increases. B) potential GDP decreases. C) aggregate supply increases. D) aggregate supply decreases. E) aggregate supply and potential GDP do not change.
Which firm is not dealing with adverse selection
a. a manufacturer requires a 90 day probationary period for new employees b. a temporary clerical agency hires without verifying typing skills c. a manufacturer requires suppliers to be ISO 9000 certified d. Smokers get the worse life insurance rates as non-smokers
Antitrust laws are designed to
A. preserve competition. B. protect the environment. C. protect the public’s trust in the government. D. All of the responses are correct.
In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices. B. lower prices. C. lower output. D. None of these is true.