In understanding and analyzing "demand," we focus on how much of a product the buyers are:
A. Willing and wanting to buy
B. Actually buying now and in the recent past
C. Able to buy with their given income
D. Willing and able to buy
Answer: D
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Following Keynesian economics, and assuming a marginal propensity to consume (MPC) of 0.80, an increase in federal government spending of $100 billion at below full employment would be expected to shift the aggregate demand curve by $500 billion to the right
a. True b. False Indicate whether the statement is true or false
If the owner of an ice-cream stand told a student looking for summer work that he would not hire him even if he worked for nothing, we can infer that
A. the marginal product of the labor is zero or less. B. the owner is producing at the lowest cost. C. the marginal product of labor is rising. D. the average product of labor is rising.
Government expenditures are different from the government national income account (G) in that:
A. government expenditures includes transfer payments while G does not. B. government expenditures are net of tax revenue while G is not. C. G includes transfer payments while government expenditures does not. D. G includes spending for defense, highways, and education while government expenditures does not.
Growth in labor productivity in health care has been ________ the growth in labor productivity in the economy as a whole
A) approximately equal to B) slightly faster than C) almost twice as fast as D) less than half as fast as