The idea that supply creates its own demand is known as
A) the law of supply.
B) the law of demand.
C) Keynes' law.
D) Say's law.
D
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When the U.S. dollar decreases in value relative to foreign currencies, the ________.
A. demand for U.S. exports will increase B. supply of U.S. exports will remain constant C. supply of U.S. exports will decrease D. demand for U.S. exports will decrease
Research shows that people rearrange their income from different sources to reduce their:
A. tax rate. B. necessary work hours. C. total bill. D. tax burden.
Grace is headed to work at a catering business as a waitress for $100. Her sister Paige calls and asks her to go horseback riding instead. Grace decides to go to work, which implies Grace's opportunity cost of working is:
A. less than $100. B. equal to $100. C. no more than $100. D. greater than $100.
Refer to the above diagram. If this is a competitive market, price and quantity will move toward:
A. $20 and 150, respectively. B. $60 and 200, respectively. C. $60 and 100, respectively. D. $40 and 150, respectively.