Table 9.4 represents 3 markets for used motorcycles. Which of the markets in Table 14.4 are NOT in equilibrium?

A util:

a. can measure satisfaction with factual accuracy. b. is not a valid concept. c. applies to a good but not to a service. d. is purely a fictitious measure of the satisfaction a consumer derives from a product. e. can be used in place of money in some countries.

A persistently declining price level resulting from economic growth and unchanged aggregate demand is called

A. supply-side deflation. B. demand-side deflation. C. ozian deflation. D. secular deflation.