Which statement is most likely correct about quantity supplied?
a. When economists refer to quantity supplied, they are referring to a certain point on the supply curve or a certain quantity on the supply schedule.
b. When economists refer to quantity supplied, they are referring to the relationship between a range of prices and the quantities supplied at those prices.
c. Quantity supplied does not change with price.
d. Quantity supplied will increase for one good when the quantity of the other good is increased.
a. When economists refer to quantity supplied, they are referring to a certain point on the supply curve or a certain quantity on the supply schedule.
You might also like to view...
The lemons problem is a situation of
A) perfect competition. B) asymmetric information. C) creative response. D) a natural monopoly.
If the demand curve increases while the supply curve remains unchanged, the equilibrium price would increase
a. True b. False Indicate whether the statement is true or false
The Save More Tomorrow (SMarT) program found all of the following except that:
A. participants quadrupled their savings in just a couple of years. B. if the default choice is to save a portion of income, people will save more. C. people were already saving at an optimal amount, so the program had no effect. D. people want to save more than they typically do.
Which of the following is true?
A. Keynesians advocate decreasing the money supply during economic recessions but increasing the money supply during economic expansions. B. Monetarists advocate increasing the money supply by a constant rate year after year. C. Keynesians argue that the crowding-out effect is rather large. D. Monetarists argue that the crowding-out effect is rather insignificant.