The quantity demanded of a good is:
A) the amount of a good that sellers are willing to supply at a given market price.
B) determined independent of the market price.
C) always determined by government intervention.
D) the amount of a good that buyers are willing to purchase at a given market price.
D
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Which of the following is true of perfectly competitive firms? a. It is difficult for entrepreneurs to become suppliers of a product in a perfectly competitive market structure. b. A perfectly competitive firm has a perfectly elastic supply curve
c. In a perfectly competitive market, an individual seller can change his price and it will not alter the output he sells. d. None of the above are true.
In a typical year, how accurate are forecasts of inflation and real GDP?
A. Within 8–10 percentage points B. Within 2–3 percentage points C. Within 3/4 of 1 percentage point D. Within 1/4 of 1 percentage point