Assuming demand is a straight line, the equation of the inverse demand curve is represented as
A. Qd = a + bP.
B. P - Qd = a + b.
C. Q = a - bPd.
D. P = a - bQd.
Answer: D
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Under the Clayton Act,
a. the same person cannot sit on the boards of directors of competing corporations. b. mergers are illegal. c. monopoly is illegal. d. the Sherman Antitrust Act was repealed.
The Real GDP of country X doubled in 10 years. It follows that
A) the per-capita Real GDP doubled during this time, too. B) the per-capita Real GDP remained stable during this time. C) the per-capita Real GDP fell during this time. D) disposable income also doubled during this time. E) none of the above
The substitution effect of wages explains shifts in the labor supply curve.
Answer the following statement true (T) or false (F)
A bank has $2 million in checkable deposits. In the bank's balance sheet, this would be an example of:
A. net worth. B. an asset. C. capital stock. D. a liability.