Which of the following corresponds to the definition of the supply curve?
a. It depicts a positive relationship between income and quantity supplied.
b. It depicts a positive relationship between technology and prices.
c. It depicts a positive relationship between prices and quantity supplied.
d. It depicts a negative relationship between prices and quantity supplied.
e. It depicts a proportional relationship between prices and quantity supplied.
c
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Which of the following is a property of an S-shaped curve that corresponds to the prospect theory value function?
A) The curve passes through the reference point at the origin. B) Both sections of the curve are convex to the horizontal, outcome axis. C) The curve is symmetric with respect to gains and losses. D) None of the above.
The sum of consumption (C), investment (I), government spending (G), and net exports (X-M) is called:
a. autonomous spending. b. aggregate expenditures. c. Keynesian income d. wealth.