The Statement "Supply Creates Its Own Demand" Is Often Referred

question 22

Multiple Choice

The statement "supply creates its own demand" is often referred to as

• A) value added.
• B) the general theory of employment.
• C) hysteresis.
• D) the natural rate of employment.
• E) Say's law.

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Definitions:

Average Fixed Cost

The cost that a company incurs for fixed resources divided by the quantity of output produced.

Diminishing Marginal Returns

A principle in economics where each additional unit of input results in a smaller increase in output after a certain point.

Study Time

The period dedicated by an individual or group towards learning or academic activities.

Comprehensive Exam

A detailed and extensive exam typically covering multiple subjects or the entirety of a specific subject, often used as a qualification or assessment in higher education.