If the quantity of wood purchased decreases when the price of wood rises, a graph representing these variables would have
A) time on the vertical axis.
B) the slope on the vertical axis.
C) a negative slope.
D) a positive slope.
C
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Use the following table for a certain product's market in Marketopia to answer the next question.Quantity Demanded DomesticallyPriceQuantity Supplied Domestically1,400$102,2001,60092,0001,80081,8002,00071,6002,20061,4002,40051,200If the world price for this product is $6, then domestic producers in Marketopia would lose revenue equal to
A. $6,000. B. $14,400. C. $8,400. D. $2.
A deadweight loss:
A. can be large in a perfectly competitive market. B. is a reduction in aggregate surplus below its maximum possible value. C. is independent the amount produced and consumed. D. is equal to the difference between total willingness to pay and the total avoidable cost of production.
Which of the following is true? a. When foreigners supply more funds than they demand, there is a capital inflow
b. When foreigners demand more funds than they demand, there is a capital outflow. c. Capital flows will tend to move real interest rates in different countries closer to one another. d. All of the above are true.
Some economists are concerned that the financial rescue provided by the TARP will encourage financial investors and firms to take on greater risks in the future. This is an example of:
A. moral hazard. B. adverse selection. C. a prisoner's dilemma. D. shadow banking.