An increase in the cost of lumbering activities will:
a. increase the quantity of wood supplied to the furniture market.
b. decrease the quantity of wood supplied to the furniture market.
c. decrease the supply of wood to the furniture market.
d. increase the supply of wood to the furniture market.
C
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Fiat money has
A) a great intrinsic value that is independent of its use as money. B) little to no intrinsic value and is authorized by the central bank or governmental body. C) value, because it can be redeemed for gold by the central bank. D) little to no intrinsic value but is backed by the quantity of gold held by the central bank.
The demand schedule for a good shows:
A. the specific quantity of the good that people are willing and able to sell at different prices. B. the positive relationship between the price and the quantity of the good. C. no relationship between the price and the quantity of the good. D. the specific quantity of the good that people are willing and able to buy at different prices.