According to Say's law,
A) if there is demand for a good, someone will supply it.
B) production creates demand sufficient to purchase all goods and services produced.
C) supply and demand work together to determine price.
D) trading takes longer in a barter economy than in a money economy.
E) none of the above
B
Economics
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During the expansion phase of the business cycle
A) employment decreases. B) unemployment increases. C) production increases. D) income decreases.
Economics
A profit-maximizing firm hires labor until
a. the price of output equals the price of labor. b. the price of output equals the marginal product of labor c. the real wage equals the marginal product of labor. d. the real wage equals the marginal product of labor multiplied by the price of output.
Economics