According to the law of demand, the
A. quantity demanded of a good does not vary with price.
B. quantity demanded of a good varies directly with price.
C. quantity demanded of a good is negatively related to its price.
D. quantity demanded depends on the quantity supplied.
C. quantity demanded of a good is negatively related to its price.
You might also like to view...
Arguments that economic growth must be constrained by environmental problems and limits of natural resources ignore the fact that economic growth can:
A. occur with only benefits and no economic costs. B. take the form of improved quality as well as increased quantity. C. increase both average labor productivity and the share of population employed. D. be measured in both nominal and real terms.
"Ceteris paribus" refers to the idea that if more than two variables are graphed, only one variable must be held constant
Indicate whether the statement is true or false
In short-run equilibrium for a competitive firm, economic profits:
A. will be positive. B. will be negative. C. will be zero. D. may be positive, negative, or zero.
During a period of expansionary monetary policy
A. the price level is decreased, which leads to a decrease in the money supply. B. the price level is increased, which leads to an increase in the money supply. C. the rate of growth of the money supply is increased, leading to an increase in the price level. D. the rate of growth of the money supply is reduced, leading to a decrease in the price level.