A downward-sloping demand curve suggests that consumers
A) buy less at lower prices.
B) buy more at higher prices.
C) plan to buy more at a given, lower price.
D) ignore marginal benefits and only focus on the supply of a product.
C
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Congressman Gallstone seeks support from his colleagues for a bill he sponsors that will establish a new national park in his district
He offers to support Congresswoman Disrail's proposal to build a new library in her district in exchange for her vote for his national park bill. This is an example of A) government failure. B) regulatory capture. C) rational ignorance. D) logrolling.
Real GDP refers to:
a) the value of the domestic output after adjustments have been made for environmental pollution and changes in the distribution of income. b) GDP data that embody changes in the price level, but not changes in physical output. c) GDP data that reflect changes in both physical output and the price level. d) GDP data that have been adjusted for changes in the price level.