The law of demand
A) was passed by the 102nd U.S. Congress.
B) is a natural law, much like the law of gravity.
C) is considered a "law" in economics because of the overwhelming empirical evidence that supports its logic.
D) is considered a "law" in economics in order to force economic models to operate fully.
C
Economics
You might also like to view...
Investment in human capital
A. shifts the aggregate production function downward. B. shifts the LRAS to the left. C. shifts the aggregate production function upward. D. decreases the aggregate demand for labor.
Economics
How does rapid price adjustment, as assumed in classical models, result in separation of real from nominal variables (the classical dichotomy)?
What will be an ideal response?
Economics