Which of the following is true for the law of supply?
A. Buyers decrease the quantity of a good purchased as price increases.
B. Sellers increase the quantity of a good supplied as price increases.
C. Price decreases as more units are supplied.
D. A decrease in price results from more demand.
Answer: B
You might also like to view...
When good weather speeds the check-clearing process, float tends to ________ causing the Fed to initiate ________ open market ________
A) decrease; defensive; sales B) decrease; dynamic; sales C) decrease; defensive; purchases D) increase; dynamic; purchases
The government's present value budget constraint states that
A) taxes must equal government spending in each period. B) the present value of government spending must be equal to the present value of consumers' disposable incomes. C) the present value of government spending must be equal to the present value of taxes. D) the government may run deficits each and every year, as long as the deficits are sufficiently small.