The law of supply states that there is
A) an inverse relationship between price and technology, ceteris paribus.
B) a direct relationship between profit and quantity supplied, ceteris paribus.
C) no relationship between price of resources and number of suppliers, ceteris paribus.
D) a direct relationship between price and quantity supplied, ceteris paribus.
Answer: D
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The greater the MPC is, the ___ the slope of the demand curve.
a. greater b. smaller c. It depends on the trade balance. d. The slope of the demand curve does not depend on this.
The intent of parity pricing is to
a. protect small farms from predatory larger farms b. maintain farmers' purchasing power c. provide incentives for farmers to produce d. generate surplus food to feed the needy e. enhance the effects of technology in agriculture