A schedule of how much of a good people will purchase for a range of possible prices during a specified time period, other things constant, is the definition of
A) supply.
B) demand.
C) a purchasing contract.
D) an economic market.
Answer: B
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Whenever a decrease in output leads to an increase in profit, the
a. marginal revenue curve lies above the marginal cost curve b. total cost curve intersects the total revenue curve c. marginal cost curve is parallel to the marginal revenue curve d. marginal cost curve lies above the marginal revenue curve e. total cost curve lies above the total revenue curve
Suppose the population (age 16 and over) of Angola is 100 million; 5 million are unemployed, and 70 million hold jobs. The labor force participation rate in Angola is
a. 5 percent. b. 65 percent. c. 70 percent. d. 75 percent.
Kristi sells purses. Her cost is $35 per purse. On a certain day, she sells 12 purses, and her producer surplus for that day amounts to $180 . Kristi sold each purse for
a. $65. b. $50. c. $45. d. $53.
If it takes 118 Japanese yen to buy one dollar, then how many dollars does it take to buy one euro?
A) $0.0085 B) $1.18 C) $0.85 D) $0.01286 E) There is not enough information to answer the question.