The quantity demanded is
A) always equal to the equilibrium quantity.
B) independent of the price of the good.
C) the amount of a good that consumers plan to purchase at a particular price.
D) independent of consumers' buying plans.
C
You might also like to view...
In the figure above, at the allocatively efficient level of computer production consumers are willing to give up
A) 0 televisions per computer. B) between 0 and 3 televisions per computer. C) 3 televisions per computer. D) more than 3 televisions per computer.
Which of the following does not describe governmental policy actions that are helpful in supporting growth in an economy? Governmental policies that
A) provide secure rights to private property. B) establish an independent court system that enforces contracts. C) facilitate the development of an efficient financial system. D) avoid playing any role in developing communication systems.
Republicans argue that labor demand is ________, so ________ jobs will be lost when the minimum wage is raised
A. inelastic; many B. inelastic; few C. elastic; many D. elastic; few
A rapid increase in the price of oil will tend to
A) shift short-run aggregate supply to the left. B) shift long-run aggregate supply to the left. C) shift long-run aggregate supply to the right. D) shift aggregate demand to the right.