What does the law of supply state?
a. Price and quantity demanded are inversely related.
b. An increase in demand will cause a leftward shift in the supply curve.
c. Price and quantity supplied are positively related.
d. A shift in the supply curve must be the result of a change in prices.
c
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The total amount of money the government owes to its creditors is known as ________
Fill in the blank(s) with correct word
The figure above shows a labor market. If there is a monopsony in this labor market, employment is
A) 0 hours per week. B) 50 hours per week. C) 100 hours per week. D) 150 hours per week.
You just bought a $1,000 bond that is scheduled to mature in ten years. If interest rates rise during the next six months, the market value (or price) of your bond will
a. increase. b. decrease. c. remain unchanged. d. increase or decrease, depending on the marginal tax bracket you are in.
A curve showing the amount of real output we collectively wish to purchase at various alternative price levels is called the ___________.
Fill in the blank(s) with the appropriate word(s).