The line that relates the price of a good and the quantity demanded of that good is called the demand
a. schedule, and it usually slopes upward.
b. schedule, and it usually slopes downward.
c. curve, and it usually slopes upward.
d. curve, and it usually slopes downward.
d
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If many more home sellers and builders have become more eager to sell their homes, we would expect to see:
a. an increase in equilibrium price and an increase in equilibrium quantity of homes sold. b. an increase in equilibrium price and a decrease in equilibrium quantity of homes sold. c. a decrease in equilibrium price and an increase in equilibrium quantity of homes sold. d. a decrease in equilibrium price and a decrease in equilibrium quantity of homes sold.
It is possible for China to have an absolute advantage over Japan in the production of rice, but not a comparative advantage over Japan in its production
Indicate whether the statement is true or false