An upward-sloping line or curve is used to illustrate:
A. a direct relationship.
B. an inverse relationship.
C. two unrelated variables.
D. the ceteris paribus assumption.
Answer: A
Economics
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The United States decides what goods to produce by letting
a. only the government decide b. members of Congress decide c. only the producers decide d. the producers and consumers decide
Economics
Which of the following represents the law of supply?
A) An increase in the price of a good causes an increase in the supply of that good. B) An increase in the price of a good causes a rightward shift of the supply curve for that good. C) An increase in the price of a good causes an increase in the quantity supplied of that good. D) all of the above
Economics