What is the difference between a change in demand and a change in quantity demanded?
A change in quantity demanded is caused by a change in the price of the product and is represented as a movement along a stationary demand curve. A change in demand is caused by a change in the determinants of demand and is illustrated as a horizontal shift of the entire demand curve.
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All of the following are primary uses of CFCs, EXCEPT
a. refrigeration b. aerosol propellants c. insulation d. fuel octane boosters
The __________ of the mentally ill over the last two and a half decades, without the promised halfway houses to treat and shelter them has added to the ________________.
Fill in the blank(s) with the appropriate word(s).
Suppose the Fed sells a $50,000 U.S. Treasury security to Martha, a member of the public. If Martha writes a check to the Fed in order to buy this security, the money in her checking account will be transferred to
A) the Fed, and now the Fed will have $50,000 more in reserves than it had before. B) her bank, and now her bank will have $50,000 more in reserves than it had before. C) the Fed, and now it is as if the money doesn't exist. D) the Treasury, and now the Treasury will have $50,000 more in reserves than it had before.
Which statement is true?
A. The highest paid professional athletes earn economic rent. B. Economic rent is paid on land, but not in the form of wages. C. Economic rent is earned mainly by the poor and the lower middle class. D. Economic rent is paid in proportion to the marginal revenue product of a resource.