A demand curve represents a(n)
A. direct relationship between price and demand.
B. indirect or inverse relationship between price and supply.
C. indirect or inverse relationship between price and quantity demanded.
D. direct relationship between price and quantity demanded.
Answer: C
You might also like to view...
How does expansionary monetary policy affect a nation's exchange rate?
What will be an ideal response?
Since a trade-off exists between total output and equality of income distribution,
A. greater equality of distribution will generally result in higher levels of output. B. greater output is generally associated with more equal distribution. C. policies designed to increase output will only succeed if distribution is more equal. D. policies intended to expand output must necessarily fail. E. policies designed to equalize distribution may adversely affect the size of output.
Supporters of minimum-wage legislation argue that:
A. some workers will become unemployed as a result of the minimum wage. B. it should be set below the market equilibrium wage. C. workers deserve a basic standard of living. D. All of these are true.
The classical school of thought believed that ______.
a. Say’s law was incorrect b. Keynes’s macroeconomic model was correct c. an economy can experience prolonged unemployment d. wages and prices adjust quickly to changes in supply and demand