The relationship that shows how much buyers of a product want to buy at each possible price, holding fixed all other factors is called:
A. a demand curve.
B. elasticity of demand.
C. demand function.
D. an indifference curve.
A. a demand curve.
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In the foreign exchange market, which of the following results in a movement along the supply curve of dollars?
A) a change in the expected future exchange rate B) a change in the U.S. interest rate C) a change in the current exchange rate D) None of the above answers are correct.
In the above figure, the Lorenz curve for income is shown. If the data used are from the United States, and the U.S. Lorenz curve for wealth was added to the diagram, it would be
A) further from the line of equality than the Lorenz curve for income. B) closer to the line of equality than the Lorenz curve for income. C) above the line of equality. D) the same as the Lorenz curve for income.
If the money supply is $500 and nominal income is $4,000, the velocity of money is
A) 1/20. B) 1/8. C) 8. D) 20.
In the Keynesian DMP model
A) There is a fiscal multiplier. B) The government post vacancies in the labor market. C) There is no unemployment. D) There can be more than one wage consistent with equilibrium.