If the price of a product increases, we would expect
A) the level of demand to decrease.
B) quantity supplied to increase.
C) the level of supply to increase.
D) an increase in quantity demanded.
Answer: B
You might also like to view...
Which of the following situations is likely to lead to dynamic open market operations?
A) A recession B) An increase in Federal Reserve float C) An increase in Treasury cash holdings D) An increase in currency outstanding
The property of diminishing marginal rate of substitution follows from the property that the indifference curves are
A) downward sloping. B) upward sloping. C) bowed in toward the origin. D) bowed out from the origin.
According to the text, approximately how many countries are members of the WTO?
A) 100 B) 135 C) 160 D) 180
The rate of return on short-term U.S. government bonds is often referred to as the:
A. federal funds rate. B. discount rate. C. risk-free interest rate. D. yield rate.