The amount of a particular good that sellers in a market will sell at a given price during a specified period is called:
A. quantity supplied.
B. demand.
C. supply.
D. quantity demanded.
Answer: A
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A bank will charge a higher interest rate the:
A. longer is the length of the loan, and the higher the risk of repayment. B. longer is the length of the loan, and the lower the risk of repayment. C. shorter is the length of the loan, and the higher the risk of repayment. D. shorter is the length of the loan, and the lower the risk of repayment.
The short-run Phillips curve is ________, while the long-run Phillips curve is vertical at the ________.
A. upward sloping; minimum wage B. downward sloping; real wage C. upward sloping; average nominal wage rate D. downward sloping; natural rate of unemployment E. horizontal; origin
Domestic law and order, the infrastructure, and the climate of international trade are all aspects of a country's:
A. natural resources endowment. B. human resources investment. C. capital investment. D. political environment.
A map is an example of a model because a map
A. is two-dimensional. B. realistically describes an area. C. is a simplified representation of reality. D. is always as complex as space will permit.