Which of the following has a direct relationship rather than an inverse relationship with the supply curve?
a. The number of sellers.
b. Resource prices.
c. Consumer income.
d. Prices of other goods that firms could produce.
a
Economics
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When the government sets a price floor which is below the equilibrium price
A. a price ceiling will follow. B. a shortage will develop. C. a surplus will develop. D. the equilibrium price will be maintained.
Economics
Velocity is V, the quantity of money is M, the price level is P, and real GDP is Y. Which of the following formulas is correct?
A) Y = (P × M) ÷ V B) Y = V × M C) Y = (P + M) - V D) V = (P + Y) × M E) V = (P × Y) ÷ M
Economics
What is voluntary exchange?
What will be an ideal response?
Economics
The break-even quantity is
a. 3000 b. 600 c. 500 d. 300
Economics