Author Question: An upward-sloping supply curve shows that: a. buyers are willing to pay more for particularly ... (Read 46 times)

jCorn1234 · **on:** Jun 30, 2018

An upward-sloping supply curve shows that:
a. buyers are willing to pay more for particularly scarce products.
b. suppliers expand production as the product price falls.
c. suppliers are willing to increase production of their goods if they receive higher prices for them.
d. buyers are willing to buy more as the product price falls.
e. buyers are not affected either directly or indirectly by the sellers' costs of production.

Question 2

When there is an inflationary gap:
a. Employment exceeds full employment.
b. Employment equals full employment.
c. Employment is less than full employment.
d. Any of the above is possible.