A demand curve can be thought of as
a. a graphical display of "market potential."
b. a graphical representation of the information in a demand schedule.
c. showing how much people want to buy.
d. a forecasting tool.
e. All of the above are correct.
b
You might also like to view...
The cost, c, of a college education that serves only as a signal of a high-quality worker is $20,000. The wage of a known high-quality worker, wh, is $75,000. The wage for a known low-quality worker, w1, is $50,000
For what value of the share of the work force that is of high quality, t, is a pooling equilibrium possible?
Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. A bundle of goods that Country B could potentially make would be:
A. (400 iPods, 2,000 tablets). B. (200 iPods, 1,500 tablets). C. (300 iPods, 450 tablets). D. (400 iPods, 1 tablet).
Antitrust enforcement is controversial mainly because
a. some business practices that seem anticompetitive may in fact have legitimate purposes. b. excessive competition can drive some firms out of business, causing job losses. c. cooperative domestic firms are best equipped to deal with international competitors. d. vigorous enforcement can reduce business profitability, lowering shareholder value.
Table 7.2GDP for Newland?Nominal GDP(in billions of dollars)GDP deflatorCPI2001$5,900120.1128.320026,300123.0131.720036,800126.3136.5Based on Table 7.2, the real GDP for 2002 was
A. $7,749.0 billion. B. $8,297.1 billion. C. $5,122.0 billion. D. $4,783.6 billion.