The supply curve reflects the
a. inverse relationship between price and quantity offered
b. positive relationship between demand and supply
c. negative relationship between price and quantity bought
d. positive relationship between price and quantity bought
e. positive relationship between price and quantity offered
E
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If a 10% increase in the price of one good, A, results in an increase of 5% in the quantity demanded of another good, B, then it can be concluded that A and B are
A. complementary goods. B. substitute goods. C. secondary goods. D. independent goods.
Under normal circumstances, the ratio of a country's export prices to its import prices should
a. increase as trade increases b. decrease as trade increases c. fluctuate as trade increases d. remain constant as trade increases e. none of the above
How can an incomplete contract prevent opportunism? Explain with an example
The demand curve for human organs is upward sloping
a. True b. False Indicate whether the statement is true or false