On the "demand side" of a market, consumers indicate what they are willing to buy, in what quantity and at what price.
Answer the following statement true (T) or false (F)
True
You might also like to view...
As the price of cookies increases, firms that produce cookies will:
A. increase the supply of cookies. B. decrease the supply of cookies. C. increase the quantity of cookies supplied. D. decrease the quantity of cookies supplied.
The short-term fluctuations experienced in the economy due to changes in levels of economic activity are called
A. the natural rate of unemployment. B. a recession. C. the business cycle. D. an expansion.
According to the BEA, in the second quarter of 2012 purchases of new residential structures rose by 8.9 percent. Using the expenditure approach, this change increases
A) gross private domestic investment. B) government expenditure on goods and services. C) net exports of goods and services. D) personal consumption expenditures.
According to Figure 7.3, prices and wages were rising, so
A. There were no redistributive effects of inflation. B. Sellers of output were better off than wage earners. C. The economy was experiencing stagflation. D. Everyone must have been worse off since the price level rose faster than incomes.