A demand schedule provides
A) the quantities of a good people are willing to sell every year.
B) the amount of a good a person wants to sell during a given time period.
C) the alternative quantities demanded for a given time period at different possible prices.
D) the amount of a good a person wants at different times of the day.
C
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An economic system is
A) the universe of all resources. B) a way to create new resources. C) a mechanism to allocate scarce resources. D) an organization that generates profits.
If you initially pay $1,000 for a bond with an annual interest rate of 5 percent, but then the market interest rate falls to 4 percent
A) the market price of the bond is still $1,000. B) the bond's annual interest payment remains equal to $50. C) the market price of the bond has increased. D) the market price of the bond has decreased.
Mechanisms that manufacturers can use to deal with misaligned retailer incentives include
a. setting a minimum retail price b. providing an exclusive contract to a single retailed in a market c. compensating retailers' sales staff for demonstrating, as well as selling, the product d. All of the above
Irving Tiller exclusively grew wheat in each of the past three years. Under the Food, Conservation, and Energy Act of 2008, Tiller:
A. must grow wheat in the current year in order to receive direct payments from the federal government. B. can grow whatever crop he wants to in the current year but will only receive direct payments from the federal government if the price of wheat falls below a targeted price. C. can grow whatever crop he wants in the current year and will still receive direct payments from the federal government based on his previously grown wheat crops. D. must grow something other than wheat to qualify for direct payments from the federal government.