What happens to quantity supplied when the price is raised?
A. It rises
B. It falls
C. It stays the same
D. It cannot be determined if it rises, falls, or stays the same
A. It rises
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Trading in collateralized mortgage obligations (CMOs) takes place in the __________ market between __________
A) primary; specialists B) organized exchange; dealers C) over-the-counter; dealers D) primary; Ginnie Mae and Freddie Mac
At one time, policy makers interpreted the Phillips curve as offering a menu of inflation-unemployment choices. Today, the curve is no longer viewed this way. Why has the interpretation changed?
The prisoners' dilemma provides insights into the
a. difficulty of maintaining cooperation. b. benefits of avoiding cooperation. c. benefits of government ownership of monopoly. d. ease with which oligopoly firms maintain high prices.
Graphically the intersection of the aggregate demand curve, the short-run and long-run aggregate supply curves determines:
A. the recessionary gap. B. long-run equilibrium. C. the expansionary gap. D. short-run equilibrium.