Given the graph shown, the quantity that would be associated with the price of $1 in a supply table would be:
A. 3.
B. 2.
C. 1.
D. 0.
Answer: D
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An inefficient use of resources can be illustrated using a production possibilities curve as: a. a movement to the northeast along the curve
b. a movement to the southeast along the curve. c. a movement off the curve in a northeast direction. d. a movement off the curve in a southwest direction.
Money functions as
A. a medium of exchange. B. an unit of account. C. a store of value. D. all of these.
In which year did long-term interest rates in Greece rise to an all-time high of close to 30%?
A. 2003 B. 2011 C. 2009 D. 2005
When a tax is imposed on a good, the
a. supply curve for the good always shifts. b. demand curve for the good always shifts. c. amount of the good that buyers are willing to buy at each price always remains unchanged. d. equilibrium quantity of the good always decreases.