What do supply and demand curves have in common?
a. They both usually slope upward.
b. They both show a relationship between quantity and price.
c. They both usually slope downward.
d. They can both shift in response to changes in income or wealth.
e. Neither of them is influenced by the size of the population.
B
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In the national income accounts, net interest is the total interest payments received by households on loans made by them minus
A) interest received from households' ownership of government bonds. B) interest payments made by households on their own borrowing. C) interest payments made by households to foreign lenders. D) taxes paid by households on their interest income.
An antitrust agency is identifying the product market for Good X and determines that Good X and Good Y have a cross-price elasticity of 0.04. As a result of the cross-price elasticity, the antitrust agency is likely to ________ Good Y from Good X's product market as the products ________ compete as close substitutes.
A) include; do B) exclude; do C) include; do not D) exclude; do not
Type II errors are
a. False negatives b. False positives c. True negatives d. True positives
At a discount rate of 6 percent, what is the net present value of an investment project expected to yield $1,000 per year (to be received at year end) for the next three years?
a. $3,000 b. $2,829 c. $2,673 d. There is insufficient information to determine whether the project should be undertaken.