Supply is the relationship between the ____ and the ____ of a good when all other things remain the same. Question 21 options:
A. supply schedule; price
B. quantity supplied; price
C. quantity supplied; selling plans
D. quantity supplied; number of sellers
E. supply curve; supply schedule
B. quantity supplied; price
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Tony notes that an electronics store is offering a flat $20 off all prices in the store. Tony reasons that if he wants to buy something with a price of $50, then it is a good offer, but if he wants to buy something with a price of $500, then it is not a good offer. This is an example of:
A. the proper application of the Cost-Benefit Principle. B. inconsistent reasoning; saving $20 is saving $20. C. inconsistent reasoning because prices are sunk costs. D. rational choice because saving 40% is better than saving 4%.
What economic impact would the closing of a nearby military base have on a town? Would people and businesses that did not directly deal with the military personnel be affected?
What will be an ideal response?
"The costs and benefits for a country from joining a fixed-exchange rate area such as the EMS depend on how well-integrated its economy is with those of its potential partners." Discuss
What will be an ideal response?
If oil prices fall at the same time that the federal government increases its purchases, in the short run
A) aggregate output and the price level will both increase. B) aggregate output will increase, but the price level will fall. C) aggregate output and the price level will both fall. D) aggregate output will increase, but the price level may either increase or decrease.