The law of demand indicates that as the price of a good increases:
A. suppliers sell less of it.
B. suppliers sell more of it.
C. buyers buy less of it.
D. buyers buy more of it.
Answer: C
You might also like to view...
The price elasticity of demand measures the ________ that results from a ________
A) change in quantity demanded; change in price B) change in price; change in the quantity demanded C) percentage change in price; percentage change in the quantity demanded D) percentage change in the quantity demanded; percentage change in price E) percentage change in the quantity demanded; change in price
Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for motorcycles at the intersection of D1 and S1 (point A). If there is a surplus of motorcycles how will the equilibrium point change?
A) The equilibrium point will move from A to B. B) There will be no change in the equilibrium point. C) The equilibrium point will move from A to C. D) The equilibrium point will move from A to E.
The natural rate of unemployment is fixed and unchanging
Indicate whether the statement is true or false
There is an influenza epidemic at Sally's office. If she got the flu shot this winter, how does this affect her decision of going to work or working from home?
a. She would choose to work from home since the marginal cost of going to the office is high b. She would choose to go to work since the marginal benefit of working from home is too low c. She would stay home since the marginal cost of going to work so is too low d. She would stay home-who wants to go to work