When demand for a product increases,
A) suppliers change their plans.
B) demanders change their plans.
C) the price changes.
D) all of the above occur.
E) none of the above occur.
D
You might also like to view...
The figure above shows Prakash's and Gail's production possibilities frontiers for writing books and magazine articles
a. What is Prakash's opportunity cost of a book? What is Gail's opportunity cost? Who has the comparative advantage in writing books? b. Who has the comparative advantage in writing magazine articles? c. According to their comparative advantages, who should write books and who should write magazine articles?
The Bretton Woods exchange rate system was an example of a
A) managed float. B) pure gold standard. C) modified gold standard. D) floating exchange rate system.
If the Fed has announced that it plans on increasing the interest rate it will
A. engage in contractionary open market operations, thereby increasing the money supply. B. engage in expansionary open market operations, thereby increasing the money supply. C. engage in expansionary open market operations, thereby decreasing the money supply. D. engage in contractionary open market operations, thereby decreasing the money supply.
The group of people who are willing to provide goods and services in exchange for money is called
A. producers. B. benefactors. C. profiteers. D. consumers.