As the price of good Z falls, the quantity demanded of good Z rises, but the quantity supplied of good Z does not change. Based upon this information we can conclude that the demand curve for good Z is ________________ and the supply curve for good Z is ________________
A) downward sloping; upward sloping
B) upward sloping; downward sloping
C) upward sloping; vertical
D) downward sloping; vertical
E) vertical; downward sloping
D
Economics
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Freedom of entry into a market tends to preserve
A) competition. B) abnormal profits. C) social justice. D) the gap between the price of a good and marginal cost.
Economics
As the economy nears the end of an expansion, which of the following do we typically see?
A) falling wages relative to output prices B) rising interest rates C) rising firm profits D) rising levels of firm investment
Economics