The Assumption of the Upward Sloping Supply Curve May Not

question 26

Multiple Choice

The assumption of the upward sloping supply curve may not hold when _____.

• A)wages are low
• B)wages are high
• C)unemployment is low
• D)unemployment is high

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Definitions:

Maker

The party in a financial transaction responsible for creating or issuing a promissory note and promising to pay it.

Payee

The individual or entity to whom a payment is to be made or has been made.

Nonassignable

Refers to a contract or rights within a contract that cannot be transferred or delegated to another party.

Commercial Paper

An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories, and meeting short-term liabilities.