As the price of cookies increases, firms that produce cookies will:
A. increase the supply of cookies.
B. decrease the supply of cookies.
C. increase the quantity of cookies supplied.
D. decrease the quantity of cookies supplied.
Answer: C
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Along a straight-line demand curve, as the price falls the
A) demand becomes more elastic. B) demand becomes less elastic. C) elasticity of demand is constant. D) demand is always unitary elastic.
The legislation overturning the Glass-Steagall Act is
A) the McFadden Act. B) the Gramm-Leach-Bliley Act. C) the Garn-St. Germain Act D) the Riegle-Neal Act.
The variance of an investment opportunity:
A) cannot be negative. B) has the same unit of measure as the variable from which it is derived. C) is a measure of central tendency. D) is unrelated to the standard deviation.
Over the past twenty years the Fed's policy experience
a. has been good and improving b. is an indicator that economic policy is confused c. shows a focus on full employment d. reveals a lack of concern about unemployment e. has been generally poor and deteriorating