According to the law of supply, if the price of calculators decrease, the supply of calculators will decrease, everything else held constant
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
In response to the financial crisis which followed the housing bubble collapse, policy-makers feared stimulating demand would cause:
A. high inflation despite low economic growth and high unemployment. B. high inflation despite high economic growth and low unemployment. C. low economic growth despite low inflation and low unemployment. D. high unemployment despite low inflation and low economic growth.
Suppose the number of medical school graduates continues to increase over the next decade. Which of the following is true?
a. Physicians' salaries will rise if the demand for medical services rises more than the supply of physicians rises. b. Physicians' salaries will fall only if the demand for medical services falls. c. Physicians' salaries must rise. d. Physicians' salaries will fall if the demand for medical services rises more than the supply of physicians rises. e. Physicians' salaries must fall.
________: personal income after the payment of tax obligations
Fill in the blank(s) with correct word
Which of the following statements about demand and price elasticity of demand is TRUE?
A. As the demand curve has a positive slope, the price elasticity of demand is positive. B. As the demand curve has a positive slope, the price elasticity of demand is negative. C. As the demand curve has a negative slope, the price elasticity of demand is negative. D. As the demand curve has a negative slope, the price elasticity of demand is positive.