Using the data in the above table
A) the variables quantity and price are positively related.
B) the variables quantity and price are negatively related.
C) the variables quantity and price are neither positively nor negatively related.
D) an increase in price is likely to cause an increase in quantity.
B
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If technological breakthroughs in the internet cause large numbers of firms to consider investment projects they hadn't previously thought of, then
A) a shift in the supply of loanable funds will cause interest rates to rise. B) a shift in the supply of loanable funds will cause interest rates to fall. C) a shift in the demand for loanable funds will cause interest rates to rise. D) a shift in the demand for loanable funds will cause interest rates to fall. E) there will be an excess supply of loanable funds.
According to the convergence hypothesis, countries with rapid GDP growth
A. are heavily industrialized. B. are market-based economies. C. are likely to be imitating technologies, rather than innovating technologies. D. higher levels of natural resource endowments.
When the price of good X rises, the demand for good Y rises. Explain what this relationship implies about the two goods
What will be an ideal response?
Economists define an aggregate as
a. a concrete object. b. a specific principle. c. a representative good or service. d. a useful abstraction. e. something immeasurable.