To determine the market supply, the quantities
A. Demanded at each price by each demander are added together.
B. Supplied at each price by each supplier are added together.
C. Demanded at each price by each demander are subtracted from the quantities supplied at each price by each supplier.
D. Demanded at each price by each demander and supplied at each price by each supplier are added together.
Answer: B
You might also like to view...
When the nation of Worldova allows trade and becomes an exporter of silk,
a. residents of Worldova who produce silk become worse off; residents of Worldova who buy silk become better off; and the economic well-being of Worldova rises. b. residents of Worldova who produce silk become worse off; residents of Worldova who buy silk become better off; and the economic well-being of Worldova falls. c. residents of Worldova who produce silk become better off; residents of Worldova who buy silk become worse off; and the economic well-being of Worldova rises. d. residents of Worldova who produce silk become better off; residents of Worldova who buy silk become worse off; and the economic well-being of Worldova falls.
Insurance tends to drive up health care costs by encouraging greater use of health care resources. Why has this occurred in the United States but not in Canada or the United Kingdom?
A. There is no health care insurance in Canada or the United Kingdom. B. Canada and the United Kingdom use nonprice rationing to contain costs. C. Canada and the United Kingdom have better health care technology that allows them to achieve lower costs than the United States. D. Only private insurance creates an incentive to overuse health care resources.
In the neoclassical growth model, n increase in the saving rate results in
a. faster permanent growth without a resultant effect on the equilibrium growth rate. b. faster temporary growth without an effect on the long-run equilibrium growth rate. c. faster temporary growth with a resultant effect on the equilibrium growth rate. d. None of the above
Aggregate supply denotes the relationship between the __________________ that firms choose to produce and sell and the _________________, holding the price of inputs fixed.
a. total quantity; price level for output b. type of goods; input price of raw materials c. price of goods; number of employees d. total inputs; types of goods