Say's law states that
A) supply creates its own demand.
B) supply and demand are never equal.
C) demand may be greater than supply.
D) supply will usually be greater than demand.
A
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The government of Silverado raises revenue through a general income tax paid by all its residents to operate the city's marina. The marina is used by private boat owners. This method of raising revenue to operate the marina is
A) inconsistent with the benefits-received principle. B) consistent with the benefits-received principle. C) consistent with the ability-to-pay principle. D) inconsistent with the ability-to-pay principle.
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
Oligopoly describes a market with:
A. many sellers. B. only a few sellers. C. few or many sellers, but only one buyer. D. one seller.
A change in price changes the quantity demanded and is represented by a movement along the demand curve.
Answer the following statement true (T) or false (F)