Historical data on prices and quantities sold do not provide the basis for drawing an accurate demand curve because
a. reporters who gather these data are often wrong.
b. factors other than price may change over time.
c. they do not include measures of price close to the quantity axis.
d. they sometimes tend to be clustered around one point.
b
You might also like to view...
Which is NOT an example of moral hazard
a. people eat more at all-you-can-eat buffets b. loggers select the most profitable trees to harvest even when they are paying a fixed fee c. Drivers of heavier, safer cares are more likely to run stop signs d. workers on commission work harder than those paid an hourly wage
A U.S. citizen's income from investment in foreign countries is _____ in the U.S. current account
a. recorded as a deficit b. recorded as a surplus c. recorded as a debit d. recorded as a credit e. not recorded