The supply curve has a
A) negative slope.
B) positive slope.
C) slope equal to -1.
D) undefined slope.
B
You might also like to view...
According to your textbook, pollution is a major social and political concern because
A) it is inefficient. B) it is always immoral. C) people disagree about rights, which are extremely difficult to resolve. D) the environment is on the verge of ecological catastrophe.
The total of all economic transactions between a nation and the rest of the world is referred to as the
A) balance of payments. B) balance of trade. C) balance of power. D) exchange rate.
Carvel advertises a football-shaped ice cream cake for $7; you can buy a second one for only $4 . What do they know about consumer preferences?
a. Consumers would never buy a second ice cream cake. b. Two cakes are worth less to the consumer than one. c. Marginal utility of ice cream cakes diminishes. d. Consumers only value the first cake at $4. e. Consumers value all cakes they eat at $4.
In order to calculate the price level, which of the following would you need to know?
a. the levels of supply and demand for all goods and services in the economy b. the rate of inflation c. the prices of all of the goods and services in the economy d. the level of the money supply in the economy