Question 10 Not yet answered Points out of 1.0 P Flag question Which option corr

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Question 10 Not yet answered Points out of 1.0 P Flag question Which option correctly interprets a demand curve? Select one: a. It shows the minimum price people will pay for each unit O b. It shows the amount of units producers will make available at various prices O C.It shows the how many units people would buy at various prices d. It shows the income people have available for consumption, from highest to lowest Question 11 Not yet answered Points out of 1.0 P Flag question Whe n looking at changes over time you should look at changes in real GDP because it has been adjusted for inflation. Select one: O True O False

Explanation / Answer

Question 10

C.

The law of demand states that there is an inverse relationship between price and quantity demanded, other things remaining the same. The demand curve shows the willingness to pay by consumers for different prices.

Question 11

True.

Real GDP adjusts for inflation. Real GDP measures the value of final goods and services at base year prices.

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