The law of demand refers to the:
a. negative relationship between the price of a good and the willingness of producers to sell it.
b. price increase that results from an increase in demand
c. inverse relationship between the price of a good and the quantity demanded.
d. increase in the quantity of a good made available when its price increases.
c
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Joshua's indifference curves for two products are shown below: 
Which of the following indifference curves is the least preferred?
A. U1 B. U2 C. U3 D. Unclear given the current information
In any efficiency wage model, it must be true that
a. the marginal benefit of increased efficiency is equal to the marginal cost of higher wages. b. nominal wages are inflexible. c. disequilibrium in the labor market exists. d. all of the above. e. none of the above.
Bills of exchange and bills of credit typically had a market value that was _________ their face value
a. greater than b. less than c. equal to d. a fixed percentage of
"Knowing your customer" means:
A) knowing what factors affect customer choices. B) knowing the names of customers. C) knowing whether something is a fad or a fashion. D) knowing that people do not believe advertising. E) having an understanding of why price goes up or down.