If total spending is greater than current output, GDP will rise.
Answer the following statement true (T) or false (F)
True
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Consider the market for credit. When the supply of credit increases while the demand for credit remains unchanged,
A) the interest rate will decrease and the amount of credit provided in the market will increase. B) the interest rate will increase and the amount of credit provided in the market will increase. C) the interest rate will decrease and the amount of credit provided in the market will decrease. D) the interest rate will increase and the amount of credit provided in the market will decrease.
Price elasticity of demand measures the responsiveness of quantity demanded in a market to a change in price
a. True b. False Indicate whether the statement is true or false
Which is the most accurate statement?
A. Doctors' incomes are high because the demand for their services is high relative to the supply. B. Doctors' incomes are high because the supply of their services is high relative to the demand. C. Doctors' incomes are low because the demand for their services is high relative to the supply. D. Doctors' incomes are low because the supply of their services is high relative to the demand.
The U.S. government enacted minimum wage legislation to protect skilled workers.
Answer the following statement true (T) or false (F)