If, in response to an increase in the price of pineapples, the quantity of pineapples demanded decreases, economists would describe this as
A) an decrease in demand. B) a decrease in quantity demanded.
C) a decrease in consumers' taste for pineapples. D) a change in consumer income.
B
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If a society uses the market system, only markets are available to solve all of its problems.
Answer the following statement true (T) or false (F)
If you use a check to purchase a textbook, the check is
a. the unit of value b. the means of payment c. the means of payment and the unit of value d. outside the monetary system e. worth less than an equivalent amount of currency
Gross domestic product is the market value of all final goods and services produced in the economy of a given territory during a defined period of time
a. True b. False Indicate whether the statement is true or false
A line that slopes downward from left to right has a
A. Negative slope. B. Slope that changes as you move along the curve. C. Slope of zero. D. Positive slope.