In economics, the meaning of demand refers to
A. how badly someone wants a good.
B. the quantities of a good that people will buy at various prices.
C. how efficient people produce goods.
D. the quantities of a good that people will sell at various prices.
Answer: B
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If production displays economies of scale, the long-run average cost curve is
A) downward sloping. B) below the long-run marginal cost curve. C) upward sloping. D) above the short-run average total cost curve.
The discount rate is kept ________ the federal funds rate because the Fed prefers that ________
A) below; banks borrow reserves from each other B) below; banks borrow reserves from the Fed C) above; banks borrow reserves from each other D) above; banks borrow reserves from the Fed
The dividing line between a recession and a depression is
A. unclear. B. a ten percent rate of unemployment. C. determined by government officials. D. set by law.
The Fed can conduct monetary policy in all the following ways except:
A. changing the discount rate. B. executing open market operations. C. running deficits. D. changing the reserve requirement.