If you sell an inferior good, offering to sell gift certificates to those looking for a gift may result in:
A. a smaller quantity sold than before the customer is given a gift certificate.
B. a smaller quantity sold than if the customer resorts to giving a cash gift.
C. a greater quantity sold than before the customer is given a gift certificate.
D. a greater quantity sold than if the customer resorts to giving a cash gift.
Answer: D
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The relationship between the overall price level in the economy and total production by firms is shown in the:
A. aggregate demand curve. B. aggregate supply curve. C. inflation rate. D. business cycle.
The aggregate supply curves show how much a nation's businesses are willing and able to produce at each price level
a. True b. False Indicate whether the statement is true or false
Which of the following terms describes how a good is produced in stages?
a. supply chain b. value chain c. supply trade d. value trade
Which of the following will most likely result from an unanticipated decrease in aggregate supply due to unfavorable weather conditions in agricultural areas?
a. a decrease in inflation b. a decrease in unemployment c. an increase in the general level of prices d. an increase in the natural rate of unemployment