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.
Answer: D
You might also like to view...
The new growth theory of economic growth examines the interaction of
A) regulations and capital expansion. B) technology, research, and innovation. C) resources and labor productivity. D) labor and population.
When policy makers take actions in response to or in anticipation of some change in the overall economy, there is
A) passive policy making. B) rationalization policy making. C) rational expectations policy making. D) active policy making.