The law of demand states that there is
A. a direct relationship between income and quantity demanded, ceteris paribus.
B. no relationship between taste and quantity demanded, ceteris paribus.
C. an inverse relationship between income and quantity demanded, ceteris paribus.
D. an inverse relationship between price and quantity demanded, ceteris paribus.
Answer: D
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Other things constant, a decrease in the price of fertilizer will: a. increase the supply of wheat
b. decrease the supply of wheat. c. increase the demand for wheat. d. decrease the demand for wheat.
In what sense is it likely that geography has an effect on a country's rate of economic growth?
Suppose the Fed buys government securities from the public. The liquidity effect of this is that the interest rate will
A) increase. B) decrease. C) remain constant. D) any of the above are possible
Discounting allows comparisons of
A. money values and physical values. B. interest payments on borrowed funds and interest payments on loaned funds. C. money values received at different times. D. the quantities of outputs produced by different types of capital goods.