The quantity supplied of a particular good is the amount of the good that
A. firms will actually end up buying at a particular price during a given time period.
B. households are willing to consume at each particular price.
C. firms are willing to sell at each price during a particular time period.
D. households want firms to sell at each price during a particular time period.
Answer: C
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Assuming no cash leakages and no excess reserves held by banks, a required reserve ratio of 0 percent would mean that the simple deposit multiplier is
A) 0. B) 1. C) 10. D) 100. E) infinity.
Exhibit 4-10 Supply and demand data for apricots Bushels demandedper month Price perbushel Bushels suppliedper month 50 $5 80 55 4 75 60 3 70 65 2 65 70 1 55 In Exhibit 4-10, assume that the government initially sets a price floor of $4 for apricots, and then removes the $4 price floor. What effect will this price change have?
A. The price of apricots will rise. B. The quantity of apricots demanded will fall. C. The quantity of apricots supplied will decline. D. Quantity supplied will continue to exceed quantity demanded.
Which of the following reforms could potentially reduce spending on health care without reducing the effectiveness of health care received?
A) nationalize health care so that all health services are government funded and operated B) give every citizen a fixed amount of money that can only be spent on health care services C) reimburse consumers for preventive health care expenditures so as to avoid costly emergency medical treatments in the future D) standardize the tax treatment of employer-based health insurance benefits and private spending on health care
Intermediate goods and services are excluded in the calculation of GDP
Indicate whether the statement is true or false