An increase in price will lead to an increase in quantity supplied. This statement is
A. the law of supply.
B. the law of demand.
C. a normative statement.
D. untrue always.
Answer: A
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It is impossible for both nations to gain when trading with one other
a. True b. False Indicate whether the statement is true or false
If the amount of time spent procrastinating and the performance on an exam are inversely related, then
A. more procrastination leads to lower exam grades.
B. more procrastination leads to higher exam grades.
C. a graph with this relationship would be positively sloped.
D. the slope of the line reflecting this relationship will be 0.
Which of the following is the best example of an intermediate good?
A. A new highway B. The commission that goes to a real estate agent C. Wax purchased by a candle company D. Wheat sold to a foreign country
Firms will invest in new equipment whenever:
A. the expected cost of the equipment is less than the expected benefit. B. the expected cost of the equipment exceeds the expected benefit. C. public saving is greater than private saving. D. the expected cost of the equipment is greater than the value of the marginal product of the equipment.