Demand curves are formed by ______.
a. minimum prices people are willing and able to sell at
b. maximum prices people are willing and able to pay
c. minimum prices people are willing and able to pay
d. maximum prices people are legally able to sell at
b. maximum prices people are willing and able to pay
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List four government expenditure programs designed to redistribute income
What will be an ideal response?
An open economy is a national economy that
A) doesn't interact economically with the rest of the world. B) has a stock market that is open to traders from anywhere in the world. C) has extensive trading and financial relationships with other national economies. D) has established diplomatic relations with most other national economies.
45° line diagrams show how
a. investment varies with income. b. expenditures vary with income. c. investment spending rises when GDP rises. d. GDP is affected by government purchases.
If a shirt manufacturer has a surplus of two shirts when they're priced at $14 each and a shortage of two shirts at $10 each, market equilibrium is likely at
a. $11 per shirt b. $12 per shirt c. $13 per shirt d. $15 per shirt