The demand curve:
A. represents consumers' ability but not willingness to buy.
B. represents consumers' willingness but not ability to buy.
C. visually displays the demand schedule.
D. shows the highest amount consumers will pay for a specific quantity.
Answer: C
You might also like to view...
The income elasticity of demand is a measure of
A) how demand for a product changes when the price of a substitute or complement product changes. B) how responsive consumers are to changes in the price of a product. C) how responsive suppliers are to changes in the price of a product. D) the extent to which the demand for a good changes when income changes. E) the extent to which the supply of a good changes when the demand changes as a result of a change in income.
In the above figure, in order for this country to move from production possibilities frontier PPF1 to PPF2, it might
A) increase the skills and productivity of its work force. B) put all unemployed resources to work producing desired output. C) engage in exchange with other nations. D) increase the average level of prices for all goods produced and consumed.
Discrimination based on age, race, gender, or family status very likely increases as a result of rent ceilings
Indicate whether the statement is true or false
The U.S. economy favors greater government intervention in the market than socialist economy would favor.
Answer the following statement(s) true (T) or false (F)