The market demand schedule or curve for a product shows the relationship between how much of the product buyers are willing and able to buy and the:
A. Product's price
B. Buyers' incomes
C. Cost of producing the product
D. Time period, say, from one month to the next
Answer: A
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The consumer price index for a country in Year 1 was 129 and in Year 2, it was 133. The inflation rate of the country between the two years is approximately ________
A) 6 percent B) 2.2 percent C) 4 percent D) 3.1 percent
Less-developed countries are experiencing rapid population growth because _____
a. birthrates are rising at a slower rate than mortality rates b. birthrates are falling while mortality rates are rising c. both birthrates and mortality rates are falling d. birthrates are rising while mortality rates are falling e. birthrates are constant and mortality rates are rising
According to the Taylor rule,
a. the Fed would have the discretion to choose an appropriate inflation rate b. the Fed would announce targets for the inflation rate and real GDP c. the Fed would allow the inflation rate to increase by about 0.5 percent per year d. the Fed would allow the price level to increase by about 0.5 percent per year e. Congress would set an annual inflation rate target
Which of the following statements is true?
a. The share of income going to labor has increased during periods when union membership has increased as a proportion of the U.S. labor force. b. Inflation in the United States has tended to accelerate as the proportion of the U.S. labor force that is unionized has increased. c. Higher wages in the unionized sectors of an economy will also push up wages in the nonunion sectors. d. High real wages cannot be achieved and sustained without increases in output per worker hour.