Define the quantity demanded of a good or service
What will be an ideal response?
The quantity demanded of a good or service is the amount that consumers plan to buy during a given time period at a particular price.
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Which of the following statements correctly describes the curves in the figure?
A) Curve A could represent either the average product curve or the marginal product curve. Curve B represents the total product curve. B) Curve B could represent either the average product curve or the marginal product curve. Curve A represents the total product curve. C) The marginal product of labor curve is represented by curve B and the average product of labor curve is represented by curve A. D) The marginal product of labor curve is represented by curve A and the average product of labor curve is represented by curve B.
Debt equity swaps may lead to
(a) increased foreign ownership. (b) greater domestic inflation. (c) lower debt servicing requirements. (d) all of the above. (e) none of the above.
In the Keynesian model, a decrease in real autonomous spending results in a more than proportional decrease in real Gross Domestic Product (GDP) because
A) consumption decreases as a result of lower real disposable income. B) consumption increases while real disposable income decreases. C) real autonomous spending decreases further as real disposable income decreases. D) government spending also decreases.
What can be said about the demand and supply of natural resources?
a. The quantity demanded of a natural resource will generally be less responsive to a change in price in the long run than in the short run. b. The supply of a natural resource will generally be more responsive to a price change in the long run than in the short run. c. The supply of a natural resource is fixed by nature; it cannot be responsive to a price change in the long run. d. None of the above is correct.