A demand curve shows
A) the willingness of consumers to buy a product at different prices.
B) the willingness of consumers to substitute one product for another product.
C) the relationship between the price of a product and the demand for the product.
D) the relationship between the price of a product and the total benefit consumers receive from the product.
Answer: A
You might also like to view...
Suppose the production function for a certain device is q = L + K. If a labor-saving technical change has occurred, which of the following could be the new production function?
A) q = L + 5K B) q = 5 ? (L + K) C) q = 5L + K D) All of the above are possible.
To obtain GDP from a national income base,
a. add indirect business taxes and Social Security taxes b. add capital depreciation and Social Security taxes c. add indirect business taxes and personal taxes d. subtract indirect business taxes and capital depreciation e. add indirect business taxes and capital depreciation