The law of demand states that
A) people demand less at lower prices.
B) the quantity demanded is directly related to price.
C) the quantity demanded is inversely related to price.
D) changes in price and changes in quantity demanded move in the same direction.
Answer: C
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The calculation of GDP using the income approach EXCLUDES
A) rent. B) interest. C) environment quality. D) wages. E) profit.
A country has a government sector deficit and a private sector surplus. If the government sector deficit increases, and the private sector surplus decreases, then ________
A) net exports decrease or remain constant B) net exports increase C) net exports increase, decrease, or remain constant D) net exports decrease
Market demand curves may slope downward even if some individual demand curves do not because
a. the law of demand requires that this is true. b. lower prices may bring more purchasers into the market. c. merchants try to sell more at lower prices. d. people believe expensive goods are better goods.
What is meant by scientific method?
What will be an ideal response?