According to the law of demand,
a. there is a positive relationship between quantity demanded and price
b. as the price rises, demand will shift to the left
c. there is a negative relationship between quantity demanded and price
d. as the price rises, demand will shift to the right
e. as the price rises, consumers will continue to purchase the same quantity of the good
C
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Use the following table, which lists output quantities and prices for the only three goods in the economy, to answer the next question. The base year is 2007.YearHot DogsBaseballsBottles of Beer?PriceQuantityPriceQuantityPriceQuantity2005$2.00100$2.5050$1.0010020064.001005.001002.0015020075.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250The Consumer Price Index for the year 2009 is
A. 50. B. 200. C. 100. D. 150.
The relative price of a good is greater than the money price of a good
Indicate whether the statement is true or false
In the United States, the typical person who has lost his or her job finds another one in a few months except during severe recessions
Indicate whether the statement is true or false
In the 19th century, when crop failures often led to bank runs, banks would make relatively fewer loans and hold relatively more excess reserves. By itself, these actions by the banks should have
a. increased the money multiplier and the money supply. b. decreased the money multiplier and increased the money supply. c. increased the money multiplier and decreased the money supply. d. decreased both the money multiplier and the money supply.