The idea that "supply creates its own demand" is attributed to which of the following economists?
A. Adam Smith
B. John Maynard Keynes
C. J. B. Say
D. David Ricardo
Answer: C
Economics
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Suppose the demand for pizza in a small isolated town is p = 10 - Q. There are only two firms, A and B, and each has a cost function TC = 2 + q. Determine the Cournot equilibrium
What will be an ideal response?
Economics
According to liquidity preference theory, the slope of the money demand curve is explained as follows:
a. Interest rates rise as the Fed reduces the quantity of money demanded. b. Interest rates fall as the Fed reduces the supply of money. c. People will want to hold less money as the cost of holding it falls. d. People will want to hold more money as the cost of holding it falls.
Economics