The term "inverse demand curve" refers to
A) a demand curve that slopes upward.
B) expressing the demand curve in terms of price as a function of quantity.
C) the demand for "inverses."
D) the difference between quantity demanded and supplied at each price.
B
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A normal good is one
A) with a downward sloping demand curve. B) for which demand increases when the price of a substitute rises. C) for which demand increases when income increases. D) none of the above
Which person is part of the labor force?
a. Bethany cares full time for a movie star’s children when the star is on location filming her next movie. b. Max cares for his toddler and infant full time. c. Heidi’s preschooler Mira is cared for by her teacher. d. Mira’s grandmother cares for her when she is not in preschool.
An annual income of less than $24,000 is
A. In-kind income. B. Below the poverty threshold. C. The poverty rate. D. Extreme poverty.
Because of producer?producer rivalry, the price will tend to:
A. rise up to the maximum price the consumers are willing and able to pay. B. be the same as the competitive price. C. be driven to a lower price. D. be the same as the monopoly price.