The demand curve for apples slopes downward
a. because supply and demand are equal in equilibrium
b. since producers supply more when consumers demand more
c. because people are assumed to be basically greedy
d. because the law of demand holds in the market for apples
e. because apples are preferred to all other goods
D
Economics
You might also like to view...
In the Solow model, if f(k) = 2k0.5, s = 0.25, n = 0.05, and d = 0.2, what is the value of k at equilibrium?
A) 1 B) 2 C) 3 D) 4
Economics
Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Economics