A market demand curve is found by adding the individual prices for each quantity demanded
a. True
b. False
Indicate whether the statement is true or false
False
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Money illusion is
A) when people think they are better off when their income increases even though prices have increased by the same amount. B) when people are motivated by self-interest. C) could not exist if the economy did not have competitive markets. D) a basic condition that all classical economists assume people have.
Why are transfer payments not included in GDP?
A) The amount is too low to have any effect. B) Unemployment varies and can't be tracked. C) Money companies receive from the government isn't reported. D) They do not represent payments to those who contributed resources to currently produced goods or services.
Bidding in a Dutch auction continues until ________
A) no bidder is willing to bid any higher B) a bidder accepts the price announced by the auctioneer C) a bidder bids above the market price of the good D) a bidder bids below the starting bid
Rapidly growing developing countries tend to be borrowers on the international capital markets. From this information we may surmise that they have a comparative advantage in
A) future income. B) capital goods. C) disposable income. D) consumer goods. E) present income.