The law of supply states that, holding other factors constant, as price increases
a. Quantity supplied increases
b. Quantity supplied decreases
c. Quantity demanded increases
d. Quantity demanded decreases
a
You might also like to view...
An increase in the price of a particular bond implies an increase in the interest rate for that bond
a. True b. False Indicate whether the statement is true or false
Advocates of the active approach argue that even when there is a large contractionary gap,
a. the downward renegotiation of wages necessary to increase the short-run aggregate supply curve and real output may take a long time, and during this period of adjustment the public bears a high cost in terms of foregone economic output. b. the upward renegotiation of wages necessary to decrease the short-run aggregate supply curve and real output may take a long time, and during this period of adjustment the public bears a high cost in terms of foregone economic output. c. the upward renegotiation of wages necessary to decrease the short-run aggregate supply curve and real output may take a long time, and during this period of adjustment the public bears a high cost in terms of foregone economic output. d. the downward renegotiation of wages necessary to decrease the short-run aggregate supply curve and real output may take a long time, and during this period of adjustment the public bears a high cost in terms of foregone economic output.
The labor market for teachers in a small, isolated community that has one school district would be best described as a(n):
A. Natural monopoly B. Bilateral monopoly C. Monopsony D. Oligopsony
The increase in the price of sugar created by the tariff will lead domestic production to increase by ________ tons per year, compared to when the economy is open without the tariff. 
A. 20 B. 10 C. 40 D. 30