The Direct Relationship Between Changes in Price and Changes in Quantity

question 240

Multiple Choice

The direct relationship between changes in price and changes in quantity supplied is

• A) a change in supply.
• B) shown by a shift in the supply curve.
• C) the law of supply.
• D) the law of relative production.

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Definitions:

Annually

Concerning an event that takes place annually.

Simple Interest

Interest calculated only on the principal amount, or on that portion of the principal amount that remains unpaid, not including interest on interest.

Rate of Interest

The percentage of principal charged by the lender for the use of its money.

Future Value

The value of an investment at a specific future date, based on its current value and anticipated growth rate.