Which of the following statements is true?
A) To an economist, demand is different from quantity demanded.
B) A demand schedule is the numerical tabulation of the law of demand.
C) A demand curve is the graphical representation of the direct relationship between price and quantity demanded.
D) a and b
E) a, b, and c
D
Economics
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Refer to the graph below. An increase in the supply of yen will result in:
Assume that Japan and the United States are engaged in a system of flexible exchange rates.
A. An appreciation of the yen
B. An appreciation of the U.S. dollar
C. A depreciation of the U.S. dollar
D. An increase in the dollar price of yen
Economics
If spending decreased by $400, and the GDP decreased $1,000 as a result, the MPC must be:
A. 2.5 B. 0.75 C. 4 D. 0.60
Economics