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.
Answer: C
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Using fiscal and monetary policies to deal with a demand shock ______.
a. will prevent the occurrence of a supply shock b. will create a negative supply shock c. is more effective than using them to deal with a supply shock d. is less effective than using them to deal with a supply shock
For which of the following time periods did the United States have a budget surplus?
A. 1990–1993 B. 1998–2001 C. 2003–2006 D. The United States did not have a surplus in any of these time periods.