Which of the following is true about demand?
A. Demand reflects the desire for a good but not necessarily the ability to buy it.
B. In order to demand a good, a person must be willing and able to buy the good.
C. When drawing a demand curve, influences such as price do not change.
D. Demand reflects the ability to buy a good but not necessarily the desire to do so.
Answer: B. In order to demand a good, a person must be willing and able to buy the good.
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A) the aggregate demand in the economy increases. B) the number of entrepreneurs in the economy will increase. C) the price level in the economy falls. D) the aggregate output of the economy will decrease.
According to data on Pennsylvania agriculture in the 18th century, the average size of a farm _________, while the output per farm ______________
a. increased; decreased b. decreased; increased c. decreased; remained fairly stable d. remained fairly stable; increased
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a. market friction. b. transaction cost. c. menu cost. d. market friction and transaction cost.
If the price of personal computers were to rise, then the demand for printers would decrease because personal computers and printers are
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