According to the “law” of demand, we would expect
A. the demand curve to be negatively sloped.
B. the demand curve to be positively sloped.
C. the total quantity demanded by the market to move in the same direction as price.
D. marginal utility to increase as quantity demanded increases.
Answer: A
You might also like to view...
Which of the following is related to the concept of trade-off used in economics?
a. Paying tuition to attend college b. Paying a high price for a movie ticket on the first day of screening c. Not having enough information available to make a rational decision d. Giving up one good or activity in order to obtain some other good or activity e. Having your cake and eating it too
An obligation to make future payment is
A. Debt service. B. An asset. C. A liability. D. Debt refinancing.
When overall production is taken into account, trade restrictions, such as those enacted by the Smoot-Hawley trade bill,
What will be an ideal response?
Explain what rent seeking is and how it may reduce the benefits of industrial policies
What will be an ideal response?