A demand curve is derived from
A. consumer's income.
B. a demand schedule.
C. the production possibilities curve.
D. an equilibrium.
Answer: B
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A group of entrepreneurs is trying to decide which of five new product ideas to select. Which tool can be used to help make the decision?
A. Decision matrix B. Entrepreneurial discovery process C. Business processes D. Opportunity cost analysis
The cost of a higher living standard in the future is giving up:
A. current consumption. B. current investment. C. future investment. D. future consumption.
If the Consumer Price Index for a certain year is 120, this means that the average price of consumer items in that year was
A) 120% higher than the average price in the base period 1982-84 B) About $120 per basket of consumer goods and services C) 20% higher than the average price in the base period 1982-84 D) 20% higher than the average price of the preceding year
Based on the information in the table, how big is the labor force? Population 16 and older1,000,000Participation Rate80%Employed Workers720,000
A. 576,000 B. 800,000 C. 720,000 D. 1,000,000