A demand schedule illustrates the quantities of a particular product or service that are demanded at different prices.
Answer the following statement true (T) or false (F)
True
The demand schedule illustrates the link between a buyer's quantity demanded and the product's price.
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How might the input market for capital affect the labor market?
a. Workers might be replaced by machines if capital costs are lower than wages. b. As the cost of capital rises, owners are more willing to increase the supply. c. Demand for capital rises as the supply of labor moves toward equilibrium. d. When equipment is new, workers usually do not help to increase profits.
The market for corn in Kansas is considered to be competitive. This means there are ________ buyers and ________ sellers of corn in Kansas.
Fill in the blank(s) with the appropriate word(s).
Every trading day, a total of roughly a ______ dollars in currency trades hands in the foreign exchange markets.
a. thousand b. million c. billion d. trillion
In 2010, of the following which nations had the highest level of real GDP per person?
A) Japan B) Europe Big 4 C) Canada D) China