On the "supply side" of a market, producers indicate to consumers what they are willing to sell, in what quantity and at what price
Indicate whether the statement is true or false
TRUE
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John is trying to decide how to divide his time between his job as a stocker in the local grocery store, which pays $7 per hour for as many hours as he chooses to work, and cleaning windows for the businesses downtown. He makes $2 for every window he cleans. John is indifferent between the two tasks, and the number of windows he can clean depends on how many hours he spends cleaning in a day, as shown in the table below:Hours PerDay CleaningWindowsTotal Numberof WindowsCleaned0017211314416517If we plot John's opportunity cost per window on the vertical axis and the number of windows cleaned each day on the horizontal axis, we will have John's ________ curve for window-cleaning services.
A. supply B. benefit C. production possibilities D. demand
Suppose that households became mistrustful of the banking system and decide to decrease their checking account balances and increase their holdings of currency
Using the money demand and money supply model and assuming everything else is held constant, the equilibrium interest rate should A) decrease. B) increase. C) not change. D) increase, then decrease.
Refer to Figure 11-5. Based on the "catch-up line" drawn above, poorer countries are more likely to be at a point like ________, where growth in GDP is relatively ________, while richer countries are more likely to be at a point like ________,
growth in GDP is relatively ________. A) B; low; A; high B) B; high; A; low C) A; high; B; low D) A; low; B; high
What is the best response of Vendor B to Vendor A pricing high?
a. Also price high b. Price low c. Leave the market d. All of the above