An indirect or inverse relationship between price and quantity demanded is
A. a demand curve.
B. a supply curve.
C. the market clearing price.
D. a change in demand.
Answer: A
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The process of supply and demand
A) guarantees shortages or surpluses will never exist. B) guarantees the greatest amount of social happiness. C) ensures that people will be able to obtain all that they need. D) generates useful information regarding the relative scarcities of goods and services. E) accomplishes all of the above.
The rate-of-return regulated public utility has a strong profit-seeking motive
Indicate whether the statement is true or false
Unemployment insurance and welfare programs work as automatic stabilizers
a. True b. False Indicate whether the statement is true or false
The "paired observation" of (12, 6) means
A. x = 12, y = 6. B. x = 6, y = 12. C. the origin is at 12 and 6. D. x = any multiple of 12, y = any multiple of 6.