Which of the following is true about the relationship between price and quantity supplied?
A) There is always a direct relationship between price and quantity supplied.
B) There is always an inverse relationship between price and quantity supplied.
C) There is usually a direct relationship between price and quantity supplied.
D) There is usually an inverse relationship between price and quantity supplied.
C
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Since Norway has close trading links with the euro zone
A) a small reduction in its price will lead to an increase in euro zone demand for Norwegian goods that is large relative to Norway's output. Thus, full employment can be restored fairly quickly. B) a small reduction in its price will lead to a decrease in euro zone demand for Norwegian goods that is large relative to Norway's output. Thus, full employment can be restored fairly quickly. C) a small reduction in its price will lead to an increase in euro zone demand for Norwegian goods that is small relative to Norway's output. Thus, full employment can be restored fairly quickly. D) a big reduction in its price will lead to an increase in euro zone demand for Norwegian goods that is large relative to Norway's output. Thus, full employment can be restored fairly quickly. E) a big reduction in its price will lead to a decrease in euro zone demand for Norwegian goods that is small relative to Norway's output. Thus, full employment can be restored fairly quickly.
The basic equation for a bank’s balance sheet is ____.
A. assets = liabilities ? net worth B. net worth = assets ? liabilities C. net worth = assets + liabilities D. liabilities = net worth + assets