One reason supply curves have an upward slope is because
A) increased supply will require increased technology.
B) to have more of the good supplied requires more firms to open.
C) people will pay a higher price when less is supplied.
D) a higher price brings a greater profit, so firms want to sell more of that good.
E) None of the above answers is correct because supply curves have a downward slope.
D
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Which of the following is NOT a component of gross domestic product?
A) purchases by consumers of used goods B) government purchases C) net exports D) purchases by consumers of finished goods
In 2010, the U.S. government had tax revenues of $2,703 billion and outlays were $3,973 billion. The budget
A) deficit was $1,270 billion. B) deficit was $3,973 billion. C) surplus was $2,703 billion. D) was balanced because every dollar the government spends it must raise. E) surplus was $1,270 billion. The table above gives a nation's government outlays and tax revenues for 2008 through 2012.