The law of demand states that there is
A) an inverse relationship between income and quantity demanded, ceteris paribus.
B) a direct relationship between income and quantity demanded, ceteris paribus.
C) no relationship between taste and quantity demanded, ceteris paribus.
D) an inverse relationship between price and quantity demanded, ceteris paribus.
D
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A less costly alternative to protection of national defense industries would be a production subsidy
Indicate whether the statement is true or false
Potential buyers of older homes form their bids from imperfect estimates of a house's value As a consequence,
a. Lower quality houses are more likely to be up for sale b. Higher quality houses are more likely to be up for sale c. Both the higher and lower value houses would be offered for sale d. No houses would be offered for sale