The demand by all the consumers of a given good or service is the ________ for the good or service
A) market demand B) scheduled demand
C) quantity demanded D) law of demand
A
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If government expenditure on goods and services increases by $10 billion, then aggregate demand
A) increases by $10 billion. B) increases by $10 billion multiplied by the government expenditure multiplier. C) increases by $10 billion multiplied by the tax multiplier. D) decreases by $10 billion. E) decreases by $10 billion multiplied by the government expenditure multiplier.
Refer to Figure 15-8. In the figure above, if the economy is at point A, the appropriate monetary policy by the Federal Reserve would be to
A) lower interest rates. B) raise income taxes. C) raise interest rates. D) lower income taxes.
Which of the following is more likely be the price elasticity of demand for anti-venom?
a. highly inelastic b. unit elastic c. elastic d. perfectly elastic
Government programs that take money from high-income people and give it to low-income people typically
a. improve economic efficiency because they reducing poverty. b. reduce economic efficiency because they distort incentives. c. have no effect on economic efficiency because they both reduce poverty and distort incentives. d. sometimes improve, sometimes reduce, and sometimes have no effect on economic efficiency.